We’ll tame inflation in 2010 budget - FG - Begins preparation for 2010 budget

26.06.2009

As the Federal Government struggles to curtail the high level of inflation in the 2009 budget, the government has disclosed that the 2010 budget will not experience similar fate as it begins preparation for the budget.

The first quarter inflation figure in the 2009 budget was 14.6 per cent. In preparing for the 2010 budget, the Federal Government hosted the 2010-2012 Medium Term Strategy Sessions (MTSS) for ministries, departments and agencies (MDA).

In addition to the MDAs, the gathering was attended by ministers, permanent secretaries, the organised private sector, civil society organisations and other stakeholders involved in the budgetary proceses.

The Minister of Finance, Dr. Mansur Mukhtar, speaking at the event, disclosed that the MTSS exercise was to deliberate fully on expected develpment projects and programmes of individual ministries, departments and Agencies

The minister who was represented by the Chief Economic Adviser to the President, Dr. Yakubu Tanumo, disclosed that the MTSS was focused primarily on completing on-going development projects that directly targeted the goals of the seven-point agenda and other developmental programmes of the government.

Considering the on-going reforms aimed at moving away from incremental budgeting to a performance based budget, he said MTSS would be the focal point for planning and prioritizing furure budgetary commitments anticipated under the 2010 to 2012 budget cycles.