News and Public Notices

By Tanya Lahies

 

Minister for Treasury and Finance Robert Wilson has announced that his ministry has prepared a very strategic budget to address key development areas at the current parliament sitting at the Bougainville House Of Representatives last week.

“The 2018 budget is directly linked to implementing the key priorities and undertakings given in the BPA, the Bougainville constitution and the six principal tasks of the third Autonomous Bougainville Government (ABG).”

The National Government in the 2018 budget allocation to ABG, allocated K117, 458, 600.00 for recurrent grants and K104, 920, 000.00 for development grants (includes K40m for DSIP and PSIP), he said.

Mr Wilson said that the recurrent grant has been reduced by 10 percent (%) and in accordance with the reduction the ABG recurrent budget has been reduced by 10 percent across the board for all departments however, the restoration development grant for 2018 was increased to K15m from K10m and the special development grant of K40m has been allocated to ABG, down from K70m in 2017.

Mr Wilson said that the ABG budget has been framed in accordance with the budget policy that was presented to the Bougainville Executive Council (BEC) in March 2017, which sees the development grants, allocated into three sectors;

1. Social Sector: 48%

2. Economic sector: 28%

3. Governance: 24 %

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