By Francisca Anania
The New Ireland Provincial Government passed its 2024 budget of K171, 708,525, with the intent of setting the province’s direction for economic growth and service delivery.
The budget was handed down by Deputy Governor of the province Sammy Missen during the final Assembly for 2023 with the theme “Managing Under Challenging times”.Compared to K211, 367,700 in 2023 Budget Estimates, a decrease of K39, 659,175 in total Revenue and Expenditure Estimates a 19% decrease.
Missen said “for years, New Ireland has always maintained a balanced budget where revenue budget estimates are equal to the expenditure estimates, resulting in no budget surplus or deficit.”
He said “the 19% decrease, is due to cut in the development budget by 71% in the 2024 National Government Budget allocation to the province, and that the province’s Internal Revenue is reduced by 7% to be realistic on internal revenue collection, and to live within means.”
Missen also said “with this budget disparity and inflation resulting in price increase of good and services, the provincial government has to manage and limit resources to set its direction for economic growth and service delivery.”He reiterated that 2023 had been a very challenging in implementing all government policies and programs.
He concluded saying “Managing in Challenging Times” is the theme of this budget, and as leaders, we must stand together to navigate this province out of the current economic situation in the country.
