The firm, in its report, “Deloitte 2025 Government Budget Statement and Economic Policy Summary of Budget Statement & Deloitte Views,” commended the government’s commitment to expenditure rationalisation, aimed at achieving macroeconomic stability.
The Minister of Finance, in the 2025 budget announcement, stated that the government is poised to implement a three-pronged approach to achieve fiscal discipline.
These approaches include recalibrating fiscal adjustment, delivering shock therapy, and restoring fiscal responsibility.
However, Deloitte cautioned that without robust controls and systems, these objectives might not be fully realised.
Deloitte specifically highlighted the necessity of empowering the IAA to diligently monitor and enforce compliance with the proposed fiscal measures.
“While the government’s commitment to rationalising expenditure is commendable, the effectiveness of these measures hinges on strong oversight.”
“Adequately resourcing the Internal Audit Agency is essential to ensure that proposed measures are adhered to and that public funds are used judiciously,” the report stated.
The firm’s report emphasised that a well-equipped IAA could play a pivotal role in preventing financial irregularities and ensuring that government spending aligned with budgetary allocations.
This, in turn, can contribute to greater fiscal discipline and accountability.
Deloitte’s analysis also touched on other key aspects of the budget, including revenue mobilisation and debt management.
The firm recommended comprehensive stakeholder engagement with affected businesses regarding new revenue measures, a thorough cost-benefit analysis of road tolls, and the expansion of the tax net to include the informal sector.
GNA
