However, Toribiong expressed concerns on the bill despite signing it.
One concern he raised was on Palau’s obligations to various international organizations.The president said Palau currently owes almost $400,000 so that the amount appropriated for obligations is not enough. Congress only appropriated $200,000.“The Republic reap many benefits from its membership and participating in many of these international organizations. It is imperative that the republic pay its dues and other financial obligations to these organizations,” Toribiong said in his letter to the leaders of Congress.He added that if these dues are not paid, Palau’s reputation will be tarnished.He also told the leaders the projected local revenues for FY2009 are expected to be approximately $4,000,000 amount less than the local revenue collected in FY2008 because of the global recession.The president also mentioned that since Oct. 1, 2008, records show that the administration paid out over $7 million from this year’s budget since the government was not operating under a continuing resolution.The money was spent to pay prior debts that have been incurred, accumulated and unpaid going as far back as FY 2002.The president however assured that the government will make sure that he will do his best to make sure that the expenditures for the fiscal year are within the government means.He said lauded lawmakers for acting on the budget.He however reminded that there is still a need to expand the tax base so as to increase the local revenues.
