President Muhammadu Buhari on Tuesday sent the 2017-2019 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), ahead of the 2017 budget, to the National Assembly.
A letter accompanying the document was read by the Speaker of the House of Representatives, Yakubu Dogara, at plenary.
The letter stated that the document would provide the framework for the development of 2017 budget.
It said that MTEF and FSP were designed against the backdrop of an adverse global economic environment.
In the letter, Mr. Buhari said, “the MTEF and FSP, which would provide the framework for the development of the 2017 budget, were designed against the backdrop of a generally adverse global economic environment.
“It is also to address fiscal challenges in the domestic economy.
“In this regard, the 2017-2019 MTEF and FSP articulates the Federal Government’s economic, social and developmental objectives as well as the strategies for achieving these defined objectives and priorities.
“I hereby forward the 2017-2019 MTEF and FSP to the House of Representatives and trust that it would be kindly considered and expeditiously approved so as to move the 2017 federal budget preparation process forward.”