The Economic Community of West African States Parliament has said that 99.92 per cent of its 2022 budget of over 20 million Units of Account would be funded from levies.
The disclosure followed the adoption of the financial document at the ongoing Second Extraordinary Session in Winneba, Ghana.
According to the legislature, the remaining 0.8 per cent, amounting to UA16,249 would come from other sources, noting that the 2022 appropriation was same in size with that of 2021.
The non-increase, the parliament added, was due to the adverse impact of the Coronavirus Disease and political instability in the sub-region on community levy projections.
It clarified, “The projected revenue for the 2022 fiscal year stands at UA20,401,258. Out of this amount, UA20,385,009 (99.92 per cent) will be funded from community levy proceeds, while UA16,249 (0.8 per cent) will come from other sources.
“Out of this amount, UA247,025 (one per cent) is estimated for governing bodies, while UA6,926,460 (34 per cent) is estimated for administrative expenses. UA 13,025,781 (64 per cent) is estimated for programmes and UA201,993 (one per cent) is for contingency.”
Speaker of the Parliament, Dr Sidie Tunis, told journalists that the projections were feasible, as member nations had been cooperating regarding payments.
His words, “I know a lot of countries are now cooperating with the community levies and it is absolutely possible to meet the 99.92 per cent funding of the budget from levies.”
On the 2021 budget, which stood at 47 per cent execution rate as at September, Tunis promised that the legislature would implement all programmes captured in the document.
He attributed the slow pace to the outbreak of COVID-19, adding that lives of parliamentarians and staff remain dear to him.
