EALA Parliament Presents 2013/14 Budget of $130M
The East African legislative Assembly (EALA) has presented its budget for the 2013/14 financial year.
The budget was presented by the chairperson of council of ministers of the East African community and minister for East African community Affairs for Uganda, Shem Bageine.
Shem Bageine with the budget
The budget has been presented with the THEME consolidating the East African community common market and moving towards the monetary union.
Minister Bageine while presenting the budget, said that the main priorities for 2013/14 is to establish a single customs territory as a milestone for free circulation of goods, minimization of customs borders controls and smoother trade in the region.
The budget is allocated to the organs and institutions of the EAC as follows;
(a) East African community secretariat,$69,787,824
(b) East African legislative Assembly ,$13,089,982
(c) East African court of Justice,$4,279,489
(d) Lake Victoria basin commission,$30,376,272
(e) Inter-University council for East Africa $9,692,785
(f) Lake Victoria fisheries organization,$3,203,042
He also said that the EAC budget for 2013/14 financial year will be funded as follows’
(a)Partner states contribution through the ministries responsible for EAC Affairs $37,297,442
(b)Partner states through other Agencies $7,249,252
(c)Development partners support $85,676,850
(d)Other income $205,850
The report indicates that the community is one of the fastest reforming region in terms of doing business in the world.
It shows that five countries of the EAC implemented a combined ten regulatory reforms across nine areas measured to improve the business environment for local businesses and encourage entrepreneurship in the region.