18 Aug 2006

CNMI deficit doubles under Babauta administration

10:15 am on 18 August 2006

An independent auditor says the Northern Marianas government's huge budget deficit almost doubled in the four years of the Babauta administration.

Deloitte and Touche showed that the government's cumulative deficit reached $174.5 million US dollars at the end of the 2005 fiscal year.

It also showed an almost 100 percent increase since the 2001 financial year when the deficit stood at $87.9 million US dollars.

The Saipan Tribune reports the Babauta administration took office in January 2002, three months after the 2001 financial year began and was in office for four years.