Sao Tome and Principe 2015 Budget up for approval in March

8 January 2015

The Sao Tome and Principe 2015 State Budget is due to be voted in parliament at the end of the first quarter, said the country’s prime minister Patrice Trovoada.

Trovoada made the announcement during an eight-day session, which began Wednesday, to consult the population to prepare what he called the “Citizen’s Budget” during which he explained the difficulties in raising revenues for the 2015 Budget.

“The budget for 2015 from donor countries has already been voted on in September/October 2014 and since then, the price of oil, which is one of the strong earnings for some of our partner countries, went from US$100 to less than US$50 per barrel, forcing these countries to amend their budgets,” he said.

According to the head of the government of Sao Tome, difficulties in raising funds are higher when economic growth in Europe is not significant. (macauhub/ST)