In a recent communiqué addressed to the National Assembly, the National Treasury has provided guidance regarding the conclusion of the supply and ways and means process for the fiscal year 2024/25.
The advisory, dated 19 June 2024, was issued in response to a request for clarification on adhering to constitutional and statutory financial limits during the legislative consideration and passage of budget-related bills.
The advisory references the submission of the Fiscal Year 2024/25 and Medium-Term Budget by the Executive, Judiciary, and Parliamentary Service Commission.
According to the National Treasury's letter, these submissions were made in accordance with Article 221 of the Constitution and subsequently presented to the National Assembly.
The National Assembly then forwarded these documents to the relevant committees for further examination.
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"The Executive, the Judiciary and the Parliamentary Service Commission submitted the FY 2024/25 and the Medium Term Budget in line with Article 221 of the Constitution which were tabled in the National Assembly and committed to the relevant Committees for consideration," stated the National Treasury's correspondence.
Following the committee reviews, the National Assembly has endorsed the Budget and Appropriations Committee's report concerning the FY 2024/25 Budget Estimates.
This endorsement is critical as it forms the basis for the Appropriations Bill for FY 2024/25, which remains pending approval.
"To this end, the National Assembly has adopted the report of the Budget and Appropriations Committee the FY 2024/25 Budget Estimates which has informed the Appropriations Bill for FY 2024/25 which is yet to be approved," the letter elaborated.
This development is a significant step in the legislative process of budget approval, ensuring that financial proceedings are conducted within the prescribed legal framework, thereby maintaining fiscal discipline and transparency as mandated by the Constitution and the Public Finance Management Act, Cap. 412A.
