News:
November 5, 2013
Barring any last minute hitches, next year’s budget will be presented to Parliament next Thursday, November 14.
The Finance Ministry is expected to depart from the usual activity based budgeting to a program based budgeting.
Activity based budgeting has been practiced by the country for more than a decade but comes with numerous challenges.
The 2014 budget is likely to dwell on programs that would enhance the country’s economic growth, while strengthening economic gains despite the high budget deficit.
In a workshop to enlighten lawmakers about the new budgeting system, Finance Minister Seth Terpker said the new system will introduce flexibility and reduce over centralization.