The Legislative Assembly (AL) unanimously passed the government’s budget framework bill, which is slated to take effect on January 1 next year, after its promulgation in the Official Gazette (BO), during a plenary session yesterday.
The bill’s outline was passed during a plenum of the legislature in October last year. The legislature’s 2nd Standing Committee held eight meetings to review the bill. The bill aims to enhance the level of transparency in the drafting of the government’s annual budgets as well as enable the general public to have stronger supervision of the city’s public finances.
The bill initially contained 31 articles when its outline was passed by the legislature. The government resubmitted the revised version of the bill, which contains 75 articles, to the committee last month.
