Lobo Confirms $296m Budget To Cover State Expenses Featured

By Artur da Luz January 11, 2019 498
Deputy Finance Minister Sara Lobo Deputy Finance Minister Sara Lobo

DILI: The Deputy Finance Minister Sara Lobo has confirmed a $296 million budget pool to cover State expenses, as parliament seeks approval of its 2019 General State Budget.

The announcement came as the Council of Ministers approved Wednesday a contingent budget to cover January and February 2019 state expenses to mitigate any budgetary approval delays.

Announcing the decision, Fidelis Magalhães, the Parliamentary Minister of Legislative Reform, said the contingent funds could be used this month.

Magalhães said the contingency budget was in accordance with Article 4/2013 / III, 7 that stipulates if an annual budget is delayed a contingent budget can be activated.

Lobo said the carryover from 2018 budget would ensure that the “engine of the country would run smoothly” over the next two months.

 

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