Desirous of bringing the 2019 budget preparation process to timely closure, the Federal Government has submitted for Senate approval, a two year (2019-2021) Medium Term Expenditure Framework (MTEF).
President Muhammad Buhari’s request was contained in a letter dated 29th October, 2018 read at plenary to the senate by its President, Bukola Saraki.
The letter contains the 2019-2021 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).
“I write to submit the 2019-2021 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) to the distinguished senate.
“Pursuant to provisions of the fiscal responsibility act 2007, the preparation towards the submission of the 2019 budget to the national assembly is progressing well.
The MTEF and FSP were prepared against the background of a generally uncertain economic environment as well as fiscal challenges in the domestic economy to ensure the planned spending is set at sustainable levels and is consistent with overall government developmental and inclusive growth.
“I hereby forward the 2019-2021 MTEF/FSP to this senate and trust that it will be considered to bring the 2019 in order to bring the 2019 budget process to timely closure”, the letter read.