President Mori's Budget Priorities for FY2010
Palikir, POHNPEI (FSM Information Services): December 19, 2008 - On December 17th and 18th, members of all Departments, Offices and Agencies of the national government came together for a meeting on budget development for fiscal year 2010 hosted by the Office of Statistics, Budget & Economic Planning, Overseas Development Assistance and Compact Management (SBOC). On the first day of the meeting, the Director of SBOC, Mr. Fabian Nimea, reviewed and explained the President's Budget Priorities for FY 2010 as set forth by his budget call to all Departments and Offices on November 15th. The President explained that the budget for FY 2010 "will be one of restraint, and a transition from the budgetary growth of the most recent past given the need to take precautionary measures during this period of Compact funds decrement and looming global economic turmoil and financial crisis." He stated that "the reduction of our operational spending will be a response to a decrease in Compact funding, investment earnings, Business Gross Revenue takes, and fees paid by businesses in FY 2009 as a result of domestic as well as regional and global economic turbulences." The President plans on meeting these challenges through the implementation of his budget policy initiatives which are:
President Mori's ultimate objective is to stabilize the economy and continue to develop its base to ensure its sustainability and increase self-reliance over the long term. The President said, "We are mandated to provide essential public services to our citizenry in a sustainable fashion." He ended his message by saying, "I believe we can work together in the preparation of a Budget that gives us clear targets to strive for and attain, provides essential government services both efficiently and cost-effectively, and one that our citizens and stakeholders deserve."
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