An amendment to the Fiscal Management and Accountability Act (FMAA) was today tabled in the National Assembly by Senior Minister in the Office of the President with responsibility for Finance, Dr. Ashni Singh to ensure the streamlining of the budget process in relation to constitutional agencies.
Arising from the 2015 amendment to the FMAA by the A Partnership for National Unity/Alliance for Change (APNU/AFC), the official said that constitutional agencies’ budgets were required to be sent to the National assembly in advance of the submission of the rest of the National Budget. Dr. Singh said that this two-stage process resulted in a fragmented and inefficient process for consideration of the National Budget and denied the Parliament an opportunity to view and consider the budget in a comprehensive manner.
Taking this into consideration, he said that the proposed amendment will change this state of affairs while adding that it will provide for a better analysis of the 2021 Budget which is in preparation mode and is slated for presentation to the National Assembly in February 2021.
