FIJI REGIME UNVEILS $848 MILLION 2010 BUDGET

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Spending plan trims $37 million

SUVA, Fiji (Fijilive, July 2, 2010) – The Fiji government has rolled back its expenditure by FJ$75 million [US$37.09 million] in a revised 2010 national Budget delivered by Prime Minister and Minister for Finance, Commodore Voreqe Bainimarama.

[PIR editor’s note: Military commander Frank Bainimarama said the new operating budget will cut costs, help stimulate local business and reduce dependency on imports. The focus for government as I've mentioned in the last couple of days is to reduce wastage, improve productivity, speed up projects, and reforms implementation," he said.]

Reductions in government salaries and wage-related costs make for FJ$40 million [US$19.8 million], while an additional FJ$24 million [US$11.9 million] has been slashed from government’s capital expenditure budget.

The total budget stands at FJ$1.715 billion [US$848.2 million ] in estimated expenditure, down from an estimated FJ$1.790 billion [US$885.3 millon ]in the original 2010 Budget.

The budget deficit has been maintained at 3.5 percent, with revenue estimated at FJ$1.496 billion [US$739.9 million].

This compares with the original budget revenue estimate of FJ$1.486 billion [US$734.9 million].

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