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January 16, 2021
News

2014 Budget Rolled Out

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The 2014 National Budget, valued at K15.2 billion, is ready for implementation. Six weeks ago, the historic and massive national budget was passed.

Treasury Minister, Don Polye, announced yesterday that 20 billion kina worth of warrants have been released to all Departments and Provinces and funds will be made available next week.

 

Mr. Polye said government’s absolute determination to grow the economy is already at work.

 

The Finance and Treasury ministries aim to have the funds flowing by the end of January.

 

However, reports revealed that about 70% of the provinces and 90% of LLGs have yet to submit their detailed 2014 budgets for approval.

 

The Minister expressed disappointment at this news, calling on each of the Provincial Governments and Governors to immediately furnish their reports.

 

Yesterday, the Minister approved the K180 million provincial budget for Sandaun Provincial Government and the K300 million kina budget for the Autonomous Region of Bougainville.

 

The treasury department has received directions from the Minister to host a budget workshop in March to discuss fiscal policies, funding allocations and priorities, amongst other issues.

 

The workshop will be open to all agencies and provinces, and supported by presentations from the Department of Planning and Finance.

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