THE CNMI government’s revenue projection for fiscal year 2024 will depend on the number of flights from South Korea, said the chairs of the House and Senate committees tasked to draft the appropriation measure.
In separate interviews, House Ways and Means Committee Chairman Ralph N. Yumul and Senate Fiscal Affairs Committee Chair Donald M. Manglona said the increase in the current or FY 2023 fiscal year projection doesn’t necessarily mean that the next fiscal year estimates will increase as well.
However, Yumul said, “there is some positive” outlook with Asiana Airlines’ plan to resume its Saipan flight service, which means “more tourists will come in.”
It looks promising, he said, and lawmakers are hoping that flights from Korea — the CNMI’s main tourism market — will continue to increase.
For his part, Manglona said increased spending due to higher visitor arrivals, along with government spending made possible by federally funded infrastructure projects can bring in additional revenue for the CNMI government in FY 2024.
Yumul also believes that federal monies distributed last year through various programs, including the Pandemic Electronic Benefit Transfer, will help boost revenue collection.
The Senate, Variety was told, is ready to act on the revised FY 2023 budget once it convenes for a special session next week.
Manglona said once Gov. Arnold I. Palacios submits his FY 2024 budget proposal on May 1, the Legislature will start working on it.
House Ways and Means Committee Chair Ralph Yumul, third right, Rep. Blas Jonathan Attao, right, and other members convene on Tuesday in the House chamber.
