Pursuant to Section 4, subsection 1 of the Public Financial Management (PFM) Act, 2016, the Minister of Finance, Dennis K. Vandi will today present a Supplementary Budget for the Financial Year 2022 in the Well of Parliament at 10am.
Section 112 (1) of the Constitution of Sierra Leone 1991 authorizes the Minister responsible for finance to prepare and lay “before Parliament in each financial year estimates of the revenue and expenditures of Sierra Leone for the next following financial year.” In addition, sub-section 3, provides for the Minister to lay before Parliament a supplementary estimate when “the amount of moneys appropriated by the Appropriation Act for any purpose is insufficient or that a need has arisen for expenditure for the purpose for which no amount of money has been appropriated by that Act.
The Minister is also expected to give global and regional economic outlook in relation to Sierra Leone, and the impact of COVID-19 and gains of the Quick Action Economic Response Programme (QAERP) which has the overall goal of maintaining macro-economic and financial stability and mitigates the impact of the COVID-19 shock on businesses and households. Also on the effect of the Russia-Ukraine war on Sierra Leone’s economy.
Vote Controllers, Heads of Ministries, Departments and Agencies (MDAs), State-Owned Enterprises, representatives of Development Partners Institutions, as well as Non-Governmental Organizations, District Budget Oversight Committee members, Local Community representatives, Non-State Actors, other Civil Society Organisations and members of the General Public are expected to witness the proceedings in the Well of Parliament.
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