Sectors of Council of Ministers approve directives of year 2023 budget

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Sectors of Council of Ministers approve directives of year 2023 budget

The joint meeting of the ministerial sectors headed by the acting Cabinet Minister Osman Hussein Osman, approved today, the general features and guidelines for the budget for the fiscal year 2023 presented by Abdullah Ibrahim,  the Undersecretary of the Ministry of Finance and Economic Planning.

The general features included the axes of basic principles and pillars of budget preparation, the general objectives and  the fiscal monetary and procedural policies, which were based on improving people’s livelihood, reducing inflation rates, activating partnership between the public and private sectors, and the application of information technology and digital transformation (e-government).

The meeting emphasized the importance of activating the Revenue Allocation Commission and the necessity of the Ministry of Finance’s mandate over public money and the work to improve revenues in the states, besides the unification the laws of terms of service and eliminating discrepancies in wages, taking into account the specificity of the nature of work.

The meeting also agreed to cancel the exemption on value added on imported sugar, the proposal to amend the income tax (business and real estate profits) for the year 2023, and the amendment of personal income tax for the year 2033.