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Tuesday, 14 April 2020

House Planning Committee to review Unified Budget Act in June

LEGISLATION WATCH- House Planning Committee to review Unified Budget Act in June: The House of Representatives’ Planning and Budget Committee will review the Finance Ministry’s draft Unified Budget Act in June, committee chairman Hussein Eissa told Al Mal.

Background: The draft bill, unveiled by the ministry in January, merges legislation governing the annual fiscal budget and government accountability into a single bill that eliminates legislative overlap. The bill would require governments to present annual medium-term budgetary and fiscal strategies to the House of Representatives, and impose fiscal discipline by setting spending limits for each ministry. The legislation would also require the implementation of program and performance budgeting, and contain measures to increase transparency and oversight over government spending to curb graft and the misuse of public funds.

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