PM happy with government efforts
Commodore Voreqe Bainimarama said as of the 30th September 2009, government collected $1,008.8 million in revenue and spent a total of $978.1 million, which is well below the spending level forecast for the period, adding he is pleased with this fiscal performance, because it confirms government's efforts to curb wasteful spending.
During the period under review, total revenue collections stood at $1,008.8 million, $41.1 million or about 3.9 percent below the forecast, which was mainly due to less than expected collections from both direct and indirect taxes, which underscores the effects of slow economic activity, following the global financial crisis.
Bainimarama stated that the current spending trend affords government the opportunity to redirect un-utilized resources to implement policies that were agreed in the course of the year but were not allocated funds in the Budget, which will assist the poor and improve infrastructure, in particular, national and council roads, water and sewerage services and bridges, to add to stimulating economic activity.
He added with the current trend in fiscal performance, he remains confident that the overall out turn for the full year would be achieved well within the 2009 Budget deficit target of 3 percent of GDP.
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