The National Council adopted the Annual Budget Appropriation Bill for the upcoming financial year and the Supplementary Budget Appropriation Bill for Financial Year 2022 to 2023 today. All 23 members present, voted in favour of the two bills.
The Economic Affairs Committee of the House, however, made two recommendations on the budget report. It recommended that the National Statistics Bureau reexamine the method of calculating inflation and ensure that the calculation reflects the economic reality. Likewise, the committee also recommended the government to work closely with the Royal Monetary Authority to avert the possible violation of the Constitution and any other economic risks arising from the rapid depletion of the foreign reserves. The bills will now be sent back to the National Assembly for further deliberations.
