No Mini-Budget, Government Will Now Venture Onto Redeployment Of funds
“The decision was based on a submission by the Deputy Prime Minister and Minister for Finance and Strategic Planning, National Development and Statistics, Hon Professor Biman Prasad” Mr Rabuka said.
Wednesday 18 January 2023 | 15:07
Prime Minister Sitiveni Rabuka during the press conference on January 18, 2023. Photo: DEPTFO News
There will be no mini-budget for the Coalition Government.
Mr Rabuka said following the Cabinet meeting held yesterday at the Office of the Prime Minister, Cabinet has approved the redeployment of funds within the 2022-2023 Budget to accommodate certain immediate priorities of the Government and to cater for additional funding requests received from Ministries and other agencies.
“The decision was based on a submission by the Deputy Prime Minister and Minister for Finance and Strategic Planning, National Development and Statistics, Hon Professor Biman Prasad” Mr Rabuka said.
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“In any financial year, if ministries are unable to meet unbudgeted or unforeseen commitments from within their respective budgets, there is a provision under the Financial Management Act 2004 (Act) that enables the redeployment of available balances from other ministries to fund these unbudgeted or unforeseen commitments.”
Story by: jone.salusalu@fijisun.com.fj
