The Cross River State Government is set to review its N1.1 trillion 2020 Budget due to slow down of the state’s economy as a result of the COVID-19 pandemic.
Commissioner for Finance, Asuquo Ekpenyong Jnr., made this known to reporters in Calabar, Wednesday, while speaking on the State’s readiness for post-COVID-19 economy.
Ekpeyong explained that with the present situation, the state is working on strategies to review economic policies which will cover the 2021 fiscal year.
While assuring that the State Reserve Funds are yieding results, Ekpenyong said, with over N3 billion proceeds from the funds now handy, meeting urgent financial obligations if the need arises will not be a challenge.
The Commissioner explained that the state’s healthy working relationship with both the Federal Government and the World Bank due to its procurement and revenue laws has been an advantage at this trying period.
