31 Aug 2004

MPs on Niue unanimously pass budget

2:07 pm on 31 August 2004

The budget for Niue for the next financial year has been passed after politicians agreed to one of just over 15 and three quarter million US dollars.

The budget, which was passed unanimously by the Legislative Assembly, is one of the largest for years amounting to just over 11 and a half thousand U.S. dollars for each of the island nation's 1,300 residents.

The budget predicts a deficit of about 197 thousand US dollars, a major improvement on last year's deficit of just over a million dollars.

Finance Minister, Toke Talagi, says the reduced deficit is a move in the right direction

"We've tried to trim it as much as possible - simply because it's unsustainable for us to continue to work this large deficit."

Niue Finance Minister, Toke Talagi