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Acep’s Review Of The 2017 Reconciliation Report On The Petroleum Funds

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The 2017 budget was one of the most promising budgets which reflected years of advocacy by ACEP and other Civil Society Organisations for focused investment in the pro-poor sectors of education, agriculture,and health. ACEP took particular notice of the allocation of 53% of the oil revenues to the pro-poor sectors of the economy.

The budget also allocated almost the entire component of the Annual Budget Funding Amount (ABFA) allowed four recurrent expenditure to the government’s flagship free SHS policy. The PRMA stimulates that up to 30% of the ABFA can be used for recurrent expenditure with the remaining 70% or more for capital expenditure. To the extent that the allocation to the free SHS constituted 26.5% of ABFA, there was – for the first time -greater clarity on what exactly the recurrent expenditures of the ABFA were.

This, ACEP believed, would help to track the impact of not just the portion of ABFA that goes into physical infrastructure, but also recurrent expenditure; a positive deviation from what we are used to. Investing in education in particular fits into the key objective of the PRMA in Article 21(2) (b) to promote equality of economic opportunity with a view to ensuring the wellbeing of citizens.

Click to read more: Press Conference

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