Economic Community of West African States (ECOWAS) Parliament says 99.92% of its 2022 budget of 20,401,258 Units of Account (UA), will be funded from community levy payment.
The parliament’s administration made this known while adopting the 2022 draft budget during its 2nd extraordinary session holding in Winneba, Ghana.
According to the parliament, the balance of 0.8% amounting UA 16,249 will come from other sources.
The Parliament also said that the 2022 budget is with zero percent increase from its 2021 budget.
The non-increase is attributed to direct impact of the current COVID-19 pandemic and political challenges within the sub-region on Community Levy projection.
It said the projected revenue of Parliament for the 2022 fiscal year, stands at UA 20,401,258.
Out of the amount, the sum of UA 247,025 or 1% is estimated for Governing Bodies, UA 6,926,460 or 34% is estimated for Administrative expenses.
UA 13,025,781 or 64% is estimated for programmes and UA 201,993 or 1% is estimated for contingency.
Speaker, ECOWAS Parliament, Dr Sidie Tunis speaking with the press, expressed optimism that member states would be able to meet their obligation of payment of levies.
“I know a lot of countries are now cooperating with the community levies and it is absolutely possible to meet the 99.92% funding of the budget from community levy,” Tunis said.
On exhausting the 2021 budget which stands at 47% of execution as at September, Tunis said that the parliament would implement all programmes captured in the 2021 budget.
He explained that the Parliament’s programmes were executed at a slow pace because of the COVID-19 pandemic.
Reporting by Idara Ukpanyang; editing by Muzha Kucha