Finance Ministry defends use of Contingencies Fund

The Ministry of Finance is defending the use of the Contingencies Fund to restore $4.6 billion of the $37.4 billion slashed from the originally proposed $220 billion 2014 budget.

In a statement last evening the ministry said that Finance Minister Dr Ashni Singh’s authority to tap into the Fund is derived from Section 41 (1)-(7) of the Fiscal Management and Accountability (FMA) Act 2003.

Section 41 (2) of the legislation states that “the Minister shall have sole authority for the …..To continue reading, login or subscribe now.



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