World Bank To Assist States On Fiscal Sustainability Plan

The World Bank Group has promised to assist the 36 states government to improve their fiscal sustainability by strengthening and consolidating the Fiscal Sustainability Plan (FSP).

The Director of Information, Federal Ministry of Finance, Mr. Salisu Dambatta, disclosed this in a statement on Friday.

Dambatta said the World Bank was prepared to finance capacity building and provide technical support for officials in the 36 states.

He said, “This would equip them with the requisite knowledge and skills to effectively manage the comprehensive implementation of the components of the FSP on a sustainable basis.

“The objective is to ensure that states are put on the path that would lead them out of the situation in which they have to be bailed out.

“The capacity building programme is expected to impart skills that would contribute in the successful implementation of the Open Government Partnership commitments with the view to boosting the fiscal transparency and accountability.”

The FSP was introduced by Federal Government to tackle the 2015-2016 fiscal crisis that followed the decline in revenue leading to two financial bailouts for the states by federal government.

The plan is also an instrument for reforming the whole gamut of the Public Sector Financial Management (PSFM) system spanning the three tiers of government.

Author: NewsAdmin

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