The Economic Community of West Africa state ECOWAS has submitted a 397.2mUA budget for 2024, which was forwarded to the ECOWAS parliament for review.
A finance representative presented the budget to the parliament during the ECOWAS session in Abuja, the finance representative revealed that the budget compared with the previous year has reduced by five per cent noting that last year’s budget submitted was 418m UA.
He explained that the budget originated from challenges such as unstable resources and reduced remittances of levies which alone led to the loss of sixty-nine percent of income to the community among others.
The president of ECOWAS Dr Omar Alieu Touray explained that following well-planned methods, provided by ECOWAS members, will ensure smooth working conditions and running of the community.
In a statement he added that in a world filled with challenges, the budget would also assist the populace of member countries in eliminating the effects of the Russian–Ukraine crisis, Isreal – Hamas, inflation and effects of sanctions on countries with military rule.
The allocation of the budget was made to five institutions.
First the West Africa Health Organization 62.6m UA, The ECOWAS Court of Justice 16.4m UA, ECOWAS Parliament 22.3m UA, and the inter–government Group against Money Laundering, GIABA 12m UA.
The parliament is expected to review the budget and make necessary amendments to it.
