The Ministry of Finance has resubmitted the supplementary budget to the Parliament, incorporating necessary corrections, following the initial rejection of the budget for not adhering to the stipulations of the Public Finance Act.
Ahmed Sharuvash, the Chief Financial Budget Executive, explained in an interview that the Public Finance Act was revised this year, introducing a requirement for a program budget. Subsequently, the supplementary budget has been reformulated to include this program structure, and it has been resubmitted with the additional information requested by the Parliament.
The Finance Ministry submitted the supplementary budget to the Parliament under the guidelines of Article 96 of the Constitution. This article allows the ministry to propose a supplementary budget when expenditures surpass the projected estimates in the approved state budget. The supplementary budget primarily focuses on allocations for Public Sector Investment Programmes (PSIP), national health insurance, subsidies, and capital contributions to state-owned companies.
The Finance Ministry stressed that the productivity of PSIP projects increased during the year, resulting in other expenditures exceeding the budgeted amount. They noted that the planned expenditure reduction measures had not been adequately implemented, necessitating this resubmission of the budget to the Parliament.