According to Yatani, the formulation of the FY 2023/24 and medium-term budgets will concentrate on the targeted economic intervention.
The seven-judge Supreme Court convened this morning for a pre-trial conference to discuss guidelines for the adjudication of nine petitions concerning the contested result of the presidential election on August 9. Regulation 57 of the Public Finance Management Regulations, 2015 compels the National Treasury to alter the budget as a consequence of new policies or government reorganization that may arise."
The PFM Act 2012 requires Treasury CS to release the medium-term spending framework instructions by August 30. The CS must follow this up with the inauguration of sector working groups comprised of accounting officials from MDAs by September 9.According to Yatani, the formulation of the FY 2023/24 and medium-term budgets will concentrate on the targeted economic intervention. The intervention will boost recovery programs to reposition the country on a sustainable and inclusive growth path.
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