In any talks of government budget, revenue is only half of the equation. More crucial is spending, and historically, government expenditures have exceeded collections regardless of the islands’ economic condition.
FOR the past few years, the administration’s annual fiscal report has read like 80% press release and only 20% useful information. The latest report is quite an improvement. It’s still a multi-page pat-on-the-back, but it now includes more pertinent details, some of which can be considered key data…
SINCE its establishment in January 1979, the CNMI government has always sought “new investments,” including those involving agriculture and fisheries. Tourism, however, has remained the Commonwealth’s economic mainstay simply because these are tropical islands — they are tourist attractions already…
When American Samoa overwhelmingly rejected deep-sea mining earlier this year, many believed their position would be decisive. But despite unified opposition from government leaders, cultural practitioners, and local communities, the final decision may still be made in Washington, D.C. — not Pago P…
Until a new major industry comes in, settles down, and thrives, tourism will remain the islands’ “bread and butter” — even as others chase economic ponies and rainbows.
DESPITE the CNMI’s dismal state, there are still some things to be thankful for, including a leadership that is not willfully blind to the economic reality staring us in the face for the past few years.