By Ben Agande, Abuja
THE Special Emergency meeting of the Federal Executive Council yesterday began discussion on the medium term fiscal strategy framework for  2014-2016  fiscal year.

The  medium-term fiscal strategy framework for 2014-2016, according to the Minister of Information, Labaran Maku was  presented by Coordinating Minister of the Economy and Minister of Finance, Ngozi Okonjo-Iweala and was aimed at achieving an early presentation of the 2014 budget.

Mr Maku said a special session of the FEC had to be convened in order to allow members of the council ample time to exhaustively discuss the policy, adding that the regular council meeting would not be able to handle the discussions comprehensively.

He said the idea was to discuss the budget forecasts and to look critically at the revenues expectations with a view to intensely growing the economy within the three-year period, stabilise the macro-economic environment and scale up the country’s Gross Domestic Product (GDP), and ultimately consolidate on the administration’s Transformation. Agenda.

He pointed out that the framework was still “a work in progress” and that its details, including the figures being debated, will not be made public until work is concluded.

Besides, observations were raised by cabinet members for the Finance Minister to fine-tune and return to FEC before approval ahead of eventual presentation to the National Assembly, he disclosed.

Maku expressed the FEC’s hope that the budget will be ready on time, possibly as early as October so that the National Assembly members can equally start work on it in time.