The chairman, Fiscal Responsibility Commission, Dr.Aliyu Jibril Yelwa made the remarks in Abuja during a capacity building workshop for civil society organisations On Fiscal Responsibility Act (FRA),convened by Centre for Social Justice (CSJ) with the support of the Friedrich Ebert Stiftung Foundation (FES).
He said MTEF which was a multi-year output oriented framework was designed to integrate government’s medium term development goals in short term budget objectives.
He said the MTEF had a three-year outlook and was revised yearly to reflect any changes in macroeconomic projections.
He said, “I believe it will be an outstanding tool for strategic management of the nation’s economy. One of the purposes of MTEF is that it increases the levels of public participation in the setting of budget objectives and priorities.”
“The Act came to sanitise a fiscal environment which was fraught with a poor savings culture, uncoordinated borrowing, poor access to fiscal records, massive corruption in public circles, poor accountability, badly fragmented budgetary system,” he said.
Speaking, Lead Director, Centre for Social Justice (CSJ),Eze Onyekpere said the workshop was to build the capacity of civil society on the detailed provisions of the FRA and to improve their skills for monitoring, reporting and evaluation of the Act.