In line with the Fiscal Responsibility Act 2009, the Delta State Executive Council has approved the 2020 Fiscal Strategy Paper (FSP).
The Commissioner for Economic Planning, Dr Barry Gbe, made this known while briefing newsmen on the outcome of the State Executive Council meeting on Tuesday in Asaba.
Gbe, who was in company with his Information counterpart and the Chief Press Secretary to the Governor, Mr Olisa Ifeajika, stated that the meeting which was presided by the Deputy Governor, Mr Kingsley Otuaro, also approved the construction of some roads in the state.
He said Council had approved for the governor to present the 2020 Appropriation Bill to the House of Assembly in October.
He added that the Fiscal Strategy Framework for the state was presented to the council at the meeting which was discussed and approved.
“As a prelude to the presentation of the 2020 budget to the State House of Assembly, as stipulated in the Fiscal Responsibility Act 2009, Exco today approved the Delta State Fiscal Strategy Paper.
“The paper which contains the Economic and Fiscal Updates (EFU), the Fiscal Framework, and the Budget Policy Statement covering 2020-2022 was anchored on the macroeconomic framework as put forth by the Federal Ministry of Budget and National Planning.
“The FSP benchmarks oil production at 2.18 mbpd, oil price at $55 per barrel and exchange rate at N305/dollar.
Gbe stated further that the budget policy statement focuses on achieving the key priorities of His Excellency Senator Dr. Ifeanyi Okowa which includes upscaling of job creation programmes for youths, building 19 new Technical Colleges in the state, construction of more critical road infrastructure, adequate funding of the special intervention agencies like the Warri/Effurun and Environs Development Agency and the Delta State Capital Territory Development Agency.