Friday, 27 February 2009 9:58 AM

Government Monitors Global Economic Crises, Cuts Spending

Government is taking steps to manage and control expenditure and maximise revenue collection to minimise the impacts of the global financial crisis on the country's budget and economy.

Finance minister Snyder Rini says the government is now prioritising public spending on essential services to ensure they continue to run and operate.

These include education, health, national security and public officers' salaries.

Mr Rini says the government will continue to ensure that revenue generation and collection remains strong.

He adds that the government will continue to invest in areas of potential economic growth.

Mr Rini says the government is re-visiting all approved development programs and projects in this year's budget with the view of placing high priority on projects that yield high economic and financial returns and cost savings in the short to medium term.

He says the ministry of Finance staffs have been advised to start looking at options including repatriation of foreign investments.

Mr Rini says the ministry is also reviewing government expenditure to reduce imports, minimise impacts of any cutbacks on growth, and enhance compliance in the areas of customs collection and revision to taxes and charges.


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