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Fiji Government announces 2010 BudgetFriday, November 27, 2009
The theme for next years Budget is: “Strengthening the Foundation for Economic Growth and Prosperity.” For the 2010 Budget, net deficit is set at 3.5 percent of GDP or $220.1 million. Bainimarama says this deficit target provides Government the necessary resources to drive economy. Revenue receipts for 2010 are projected at $1.4m or approximately 24.0 percent of GDP. Accordingly, Government’s expenditure programs in the 2010Budget have been formulated within a ceiling of $1.7m. Bainimarama says at the same time, efforts will focus on ensuring that resource allocation decisions are contained within the approved expenditure limits. Government is also mindful of the impact of high expenditure on its overall debt position. Bainimarama says resuming a path of fiscal consolidation is proposed for the medium-term to enable Government to move closer towards its goal of reducing debt to sustainable levels. Fiji Broadcasting Corporation |
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