Supplemental budget submitted by January

Earlier, Finance Minister and Vice President Kerai Mariur said that the government will ask for a supplemental budget of $3 million for year 2010 to augment expenses.

The supplemental budget will however reduce spending to four percent not 10 percent as originally claimed by the Executive Branch.

The government has in its disposal at least $18 million after the United States government approved continuance of funding for one more year while pending the ongoing review of the Compact of Free Association between the two countries.

Earlier, the Executive Branch said it has dropped budget spending by 10 percent but the additional $3 million money sought by the government will be reduce savings by only four percent.

Fiscal Year 2010 budget amounted to over $53 million, the budget was made in such a way without the Compact funding.

 

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