Minister for Finance, Dr. Mohammed Amin Adam, stated that while the government is committed to implementing fiscal consolidation, it is also dedicated to strengthening social intervention programs.
He emphasized that the government is enhancing social protection measures to shield the poor and vulnerable from economic challenges and adjustments.
During the 3rd edition of the monthly media briefing, Dr. Adam highlighted that over the past two years, the government has doubled the benefits of the Livelihood Empowerment Against Poverty (LEAP) program and indexed it to inflation to preserve its value.
He also noted that the government has increased benefits under the school feeding program by 25%, boosted allocations to the National Health Insurance Scheme (NHIS) by over 40%, and raised the capitation grant allocation by 25% to support basic education.
“So ladies and gentlemen as we implement the fiscal consolidation we have not forgotten of the poor and the vulnerable. Ours is to promote inclusive growth and this is demonstrated by the increasing spending that we are seeing in these social interventions for our people,” he stated.
On Friday, the minister provided an update on the economy, covering topics such as the implementation of the IMF-supported Post-COVID-19 Program for Economic Growth (PC-PEG), progress on external debt restructuring, the status of the SME Growth and Opportunity Program, and the economic performance in the first quarter.
The ministry’s monthly press briefing is a measure aimed at enhancing transparency and accountability in the country’s economic management.