Minister of Finance Hon. Hiro Shigemoto announced on Wednesday that the Ministry of Finance received the advice from the Council of Advice on Tuesday afternoon, and preparations are now underway to send the 2012 National Budget to the Governor who then forwards it to Parliament.
The Committee of Financial Supervision CFT has already submitted its advice which was also sent to the Advisory Council.
"I am looking forward to Parliament handling the budget before March 1 and this seems feasible as long as there aren’t any changes that Parliament would like to make to the financial document," Minister of Finance Hon. Hiro Shigemoto said on Wednesday.
In December Parliament, the Governor and the General Audit Chamber were informed that the process to complete the national budget and have it submitted to Parliament by the December 15 timeline would not be met.
The 2012 national budget is Naf.432,549,600 million while the 2011 budget is Naf.420,916,597 million. Figures from the latter are currently being used until the 2012 budget has been approved.