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The President and Congress consult on pressing issues

Palikir, Pohnpei (FSM Information Services): January 23, 2012 - The executive and legislative branches of the FSM National Government continue to hold high level consultations as the President, along with the Vice President and cabinet members met with the Speaker and Members of Congress on January 20 (Friday) at the Congress Nahs in Palikir.

At the request of the President, the leaders gathered to further discuss pressing issues that could be taken up at the on-going 3^rd Regular Session of the 17^th Congress and reach consensus on the suggested agenda items for the upcoming State and National Leadership Conference (SNLC) to be held on February 1-3, 2012.

In welcoming everyone, Speaker Isaac V. Figir said there is "high hopes" for the nation and asked for renewed commitment to the spirit of cooperation as the New Year unfolds.

In his opening remarks, President Manny Mori extended a belated new year's greeting and expressed appreciation to Congress for passing the SNLC budget request a few hours earlier, calling the action a "sign of our commitment" to address challenges together.

The leaders talked frankly on a number of issues including revenue projection and the budget process, offsetting the impacts of the $800,000 annual decrement in Compact sector grant, ownership of the US-FSM Compact Trust Fund, timely expenditure report of government funded operations and programs, the long term fiscal framework leading to 2023 - the termination for the economic portion of the Compact, consolidation of offices and "right-sizing" of the National Government, and agreeable SNLC agenda items from the National Government's perspective.

Furthermore, there were some discussions on ideas in pursuit of economic potentials and eliminations of impediments to growth as highlighted in the previous National Economic Summit early 2011.

The President and Congress acknowledged the usefulness of informal meetings to discuss some important issues facing the nation, which may have been difficult in a formal setting.

At the closing of the engaging meeting, the leaders agreed to meet again on January 25, Wednesday, to strap down definitive issues that the national government should present as agenda items at the leadership conference in February. Among other outstanding items for the next meeting is to discuss the manner in which proposed revenue projection is to be made so that the revenue forecast level is agreeable to both branches and in sync with experiences of prior years.

The President has the constitutional authority to submit to Congress the proposed budget along with a revenue projection for the upcoming fiscal year which the Secretary of Finance will have to track on a monthly basis.