EAC Pre-budget Conference for Financial Year 2023/2024 Concludes in Arusha

East African Community Headquarters, Arusha, Tanzania, 25^th September 2022: The EAC Pre-budget Conference for the Financial Year 2023/2024 came to a close on Friday, 23^rd September 2022 at the EAC Headquarters in Arusha, Tanzania.

Representatives from all the EAC Organs and Institutions, delegates from EAC Partner States and Members of the East African Legislative Assembly (EALA) Committee on General Purpose attended the two-day conference.

The Conference was convened to deliberate and reach a consensus on the priorities that will guide the Community’s planning and budgeting process for the Financial Year 2023/2024 in line with the 6^th EAC Development Strategy 2021/22 – 2025/26 that will be entering its third year of implementation in FY 2023/2024.

In his opening remarks, the Chairperson of the EALA Committee on General Purpose, Hon. Dennis Namara, underscored the need for the planning and budgeting process at all levels to be consistent with the approved priorities of the Community.

Hon. Namara emphasised the need for consultations among all stakeholders during the Community’s planning and budgeting process, adding that the agreed priorities under the four pillars of EAC integration (Customs Union, Common Market, Monetary Union and Political Federation) should always reflect the aspirations of East Africans.

On his part, the Deputy Secretary General in charge of Planning, Infrastructure, Finance and Administration, Eng. Steven Mlote, highlighted the Community’s recent achievements, notably:

1. The adoption of a four-band structure of the EAC Common External Tariff of 0%, 10%, 25% and a maximum of 35% as a means to promote industrialisation in the region and safeguard consumer welfare
2. Admission of the Democratic Republic of Congo (DRC) as a member of the East African Community, and;
3. Development of the roadmap for the implementation of the decision of the Summit declaring Kiswahili and French as official languages of the Community.

Eng. Mlote expressed his gratitude to the EAC Partner States for their commitment to the EAC integration and urged them to endeavour to disburse their financial contributions promptly to ensure timely implementation of projects and programmes.

The key priorities identified during the Conference focus are:  

1. Strengthening of regional governance processes;
2. Increasing sensitisation, visibility, knowledge, awareness and participation of the private sector, citizens and other stakeholders in the EAC integration process;
3. Harmonisation of trade related policies, laws and regulations, and streamlining of customs and trade facilitation system;
4. Harmonisation of fiscal and monetary policies towards the attainment of the East African Monetary Union;
5. Enhancing the productive capacity and increasing regional value chains to improve the economic well-being;
6. Strengthening of the social sectors to improve the social welfare of East Africans;
7. Improvement infrastructure to support free cross-border movement, and;
8. Strengthening of the capacity of all EAC Organs and Institutions to effectively discharge their mandate.