Massive delays are being experienced in the preparations for the new Federal Budget 2024–25 as the government gets ready to confer with the International Monetary Fund (IMF) on every aspect of the budget before moving forward.
As per the local media reports the lender’s mission is anticipated to arrive in the upcoming weeks.
According to reports, this has had a major effect on the timetable. The Budget Strategy Paper 2024–27 has not yet been finalized, despite its initial intent to be approved by April 22.
The Annual Plan Coordination Committee (APCC) has not met as scheduled, according to sources. The National Economic Council meeting is expected to happen in the second week of May, though.
By the end of this month, the budget documents should be finished and ready for the cabinet to review. The budget for the following fiscal year will thus probably be introduced in Parliament in the first week of June.
The budget draft will be approved by the federal cabinet prior to presentation following the IMF’s final adjustments.
