Georgetown : Minister of Finance, Dr. Ashni Singh said that the preparatory works for the 2012 National Budget are well advanced and that his Ministry is set to meet its March month-end deadline.
Minister Singh briefing the media at Office of the President yesterday said the budget preparation process is quite a lengthy one, which starts six months before the commencement of the fiscal year in question. This means, that the technical work for budget 2012 would have started in a formal manner as early as July last year.
“Technical work commenced and submissions were received from the various sectors. Those have since been reviewed; there have been several rounds of meetings between my Ministry and the various sectors and the process of refining those submissions is ongoing and it is very advanced, much of the work would have happened last year,” Minister Singh said.
He explained to that the process of policy formulation and refinement, identification, design and development of projects, programmes and initiatives, which Government is constantly engaged in, is an ongoing one.
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