 FSM holds second annual budget consultationPalikir, POHNPEI (FSM Information Service): July 22, 2005 - The Government of the Federated States of Micronesia held its second Budget Consultations in Palikir from July 18 thru 19, 2005. Government representatives from the four states and representatives of the United States joined the national government for the two intense days of discussions and deliberations of the budget plans for the FSM national and state governments. The budget consultation is among the new requirements stipulated under the amended Compact of Free Association. It allows for all parties concern, a complete review of FSM's upcoming budget plans. The second Budget Consultation is to produce a well-justified set of recommendations to be presented at the upcoming meeting of the Joint Economic Management Committee, next month. Secretary Nick L. Andon, of the Department of Finance and Administration welcomed the delegations to Palikir with a reminder that the consultations are based on the principles of friendship and partnership between the FSM and the US. He said it is a friendship and partnership based on " mutual respect for one another as sovereign and independent countries and peoples. "As such, our two governments, though similar and founded on the same democratic principles, we will have systems and processes that are not necessarily the same," he added. Secretary Andon stressed that the Budget Consultation and the JEMCO process need to "respect the internal procedures and laws of each government." It is an area that Secretary Andon said needs both Governments' "early attention." |