8 Jan 2004

Cook Islands fiscal report highlights government spending concern

3:27 pm on 8 January 2004

A Cook Islands government fiscal half year update released at the end of last month says an increase in taxation revenue from 34 million dollars to 60 million in 2002/2003 has led to concerns of "fiscal slippage".

The report stated there has been a marked increase in the wage bill and expenditure on goods and services.

The overview in the update says that a significant weakness in fiscal policy arises from the lack of clear direction of government priorities resulting from the fequent changes in government administration."