Economic Sector approves Budget of Fiscal 2009
The Economic Sector approved in its meeting Tuesday the General Budget of the year 2009 which was reviewed by the Minister of Finance and National Economy, Dr. Awad Ahmed Al-Jazz, in presence of the two Chairmen of the Sovereignty and Services sectors as well as their deputies. Dr. Al-Jazz explained that the preparations of the general budget was made as part of a comprehensive financial and institutional reform programme which was made according to an inclusive medium term vision as well as an executive programme to meet the priorities of the 5-year strategic plan.
The Minister explained that the most important directives of the budget are the establishment of political stability via achievement of peace, reconciliation and national unity, sustainable rates of growth and linking the monetary policy with the financial policy besides keep on the implementation of the agricultural development programme as well as directing the public spending to the priorities and capacity building programmes and reducing unemployment rate through encouraging direct private investment. The Budget also aims at intensifying oil exploration to increase the national reserve as well as encouraging the investments in domains of transport and roads through partnership between the private and public sectors. The budget's objectives also include pressing ahead in the tax reform programme and mapping out the policy of coordination between the various levels of governance. The sector praised the efforts exerted by the Ministry of Finance and National Economy in preparation of the general budget.