Guinea Bissau: Parliament approves 2008 state budget

7 December 2007

Bissau, Guinea Bissau, 7 Dec – The parliament of Guinea Bissau Thursday approved, by an absolute majority, the state budget for 2008, the first time in the country’s history that the document has been presented and debated before the year in which it is carried out.

The budget includes total expenditure of around 149 million euros and a deficit of around 91 million euros.

Speaking to the press, Finance Minister Issuf Sanhá said that the deficit would easily e overcome with eth approval of the Post-Conflict program that the country is negotiating with the International Monetary Fund (IMF) and a subsequent meeting with donors.

the Post-Conflict program will allow the country to receive a kind of “approval from the IMF” for donors to provide “important funds” to support development,” said Sanhá.

In the 2008 budget the ministry to receive a greatest share is the Finance Ministry, with a little over CFA8 billion.

The National Defense Ministry, which received the largest tranche in 2007, is in second place, followed by the Education and Public Health ministries. (macauhub)