By Umar Muhammad Puma
President Muhammadu Buhari has transmitted the 2018-2020 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) to the House of Representatives.
Buhari in a letter addressed to the Speaker, Yakubu Dogara, said the move is in pursuant to the provisions of the Fiscal Responsibility Act, 2007 is a preparation towards the submission of the 2018 budget to the National Assembly.
The President said that the MTEF and FSP were prepared against backdrop of a generally adverse global economic uncertainty as well as fiscal challenges.
He added the documents were also prepared to effect recovery in the domestic economy, to ensure that planned spending was set at prudent and sustainable levels.
The President further disclosed that the MTEF and FSP were consistent with government’s overall development objectives and inclusive growth.
He expressed gratitude for the enduring partnership between legislative and executive arms of government and appealed for expeditious consideration and approval to bring the 2018 budget preparation process to timely closure.
