The President of the Republic, Mr Danny Faure, assented to the Appropriation Act 2019 at an official document signing ceremony held at State House this morning.

The President assented to the Act in the presence of the Minister for Finance, Trade, Investment, and Economic Planning, Mr Maurice Loustau-Lalanne, and other witnesses, following the approval of the Appropriation Bill 2019 which was passed by the National Assembly on Tuesday 4 December this year.

The theme of the 2019 Budget is “Stability and Progression”. The Appropriation Bill 2019 was approved by the Cabinet of Ministers on 18 October 2018 and published as a supplement to the Official Gazette on 19 October. It was presented to the National Assembly by Minister Loustau-Lalanne on Monday 5 November.

Now that the President has given his assent to the Act, under Section 2 of the Appropriation Act 2019, the Minister for Finance, Trade, Investment and Economic Planning now has the authority to carry out the expenditure of the budget under the Act. He may authorise the issue from from the Consolidated Fund for the Services to the Republic for the year 2019, a sum not exceeding SCR 8, 457, 359, 478.

Also present at State House for the signing ceremony this morning was Vice-President Vincent Meriton, Designated Minister Mrs Macsuzy Mondon, Attorney General Mr Frank Ally, Secretary of State for Finance Mr Patrick Payet, Principal Secretary for Finance Mr Damien Thesee, Principal Secretary Ms Cillia Mangroo and Comptroller General Ms Irene Croisee.