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Budget 2022/2023: Ministries, public entities told to tighten the belt
The Ministry of Finance is reportedly being more picky with regard to financial accountability from senior officials in government ministries and departments.
According to l’Express newspaper, particular effort is being sought to prevent abuse in the management of public funds, including additional costs for ongoing projects and abuse in overtime.
The newspaper cited a circular issued by the Financial Secretary Dev Manraj as claiming that deviations will not be tolerated.
Manraj has also been cited as urging the heads of public and parastatal entities for “a better understanding of the current situation” when they formulate their budget proposals and submit indicative estimates for the period 2023-24 and 2024-25.
The Russian-Ukrainian war, he claimed, will put greater pressure on the world economies. The economic recovery is seriously compromised, according to the financial secretary.
Hence, the urgency of adding more resilience in the next 2022-23 Budget, to enable the country to face the new economic emergencies.
The call of the financial secretary, l’Express said, is an annual ritual before budget consultations.
Public finances are reportedly under strong pressure, especially with sectors such as tourism struggling to take off, with only an average of 52,000 visitors per month.
All eyes are now reportedly on the price of Brent, above USD 120 a barrel today but which, according to specialists, could reach USD 200 a barrel if the United States apply a total embargo against Russia.