Reps Pass Medium Term Expenditure Framework

The House of Representatives has passed the 2015-2017 Medium Term Expenditure Framework (MTEF) and fiscal paper, and set the crude oil benchmark price at 52 dollars per barrel.

In a bid to ensure it completes work on the documents, the House of Reps received the report of a joint committee on the documents, considered and passed the recommendations put forward unanimously.

The oil benchmark price passed by the Reps is higher than the 52 dollars benchmark passed by the Senate last week.

Both chambers will now have to met and agree on this benchmark price and other projections contained in the documents.

Experts have defined the MTEF as a whole-of-government strategic policy and expenditure framework which balances what is affordable against policy priorities of the government."