281211House passes K264 million budget
By New Dawn Media
THE Bougainville House of Representatives passed a record Autonomous Bougainville Government (ABG) 2012 budget of K264, 651, 600 yesterday.
The 2012 outlay represents an increase of 45.7 percent or K83 million over this year’s ABG budget of K176million.
In highlighting the 2012 budget, ABG Finance, Treasury and Planning minister Albert Punghau said it represents a turning point in the progress of the ABG.
“The need for reconciliation, weapons disposal and improved law and order continues to be a major focus for the ABG.
“Improving the economy and the livelihoods of the people of Bougainville in preparing for the referendum continues to be a key priority, this has been reflected in the framing of the 2012 ABG budget,” said Punghau.
Of the 2012 appropriation: 68.1 percent of the ABG 2012 budget will be funded from the national government grants totaling K180, 355, 700.
Contribution from donor partners amounts to K37 million and ABG internal revenue accounts for K46, 906, 900 or 17.7 percent of the total revenue of 2012.
“The government still relies almost exclusively on the national government and donor partners to finance its annual budget but our revenue base is gradually expanding and in real terms, the government is expected to raise more internally than in previous years,” said Punghau.
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By New Dawn Media
THE Bougainville House of Representatives passed a record Autonomous Bougainville Government (ABG) 2012 budget of K264, 651, 600 yesterday.
The 2012 outlay represents an increase of 45.7 percent or K83 million over this year’s ABG budget of K176million.
In highlighting the 2012 budget, ABG Finance, Treasury and Planning minister Albert Punghau said it represents a turning point in the progress of the ABG.
“The need for reconciliation, weapons disposal and improved law and order continues to be a major focus for the ABG.
“Improving the economy and the livelihoods of the people of Bougainville in preparing for the referendum continues to be a key priority, this has been reflected in the framing of the 2012 ABG budget,” said Punghau.
Of the 2012 appropriation: 68.1 percent of the ABG 2012 budget will be funded from the national government grants totaling K180, 355, 700.
Contribution from donor partners amounts to K37 million and ABG internal revenue accounts for K46, 906, 900 or 17.7 percent of the total revenue of 2012.
“The government still relies almost exclusively on the national government and donor partners to finance its annual budget but our revenue base is gradually expanding and in real terms, the government is expected to raise more internally than in previous years,” said Punghau.
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