15 Oct 2010

CNMI budget outlook darkens

1:29 pm on 15 October 2010

The Northern Marianas' economic woes are worse than thought.

Last week, the government cut its budget to 132 million US dollars after forcing public servants to work fewer hours each week and now the Governor says he's considering more reductions.

The government has revised down its anticipated revenue for the year to about 122 million US dollars and it's expected that'll mean more cuts to hours and the loss of some jobs.

The latest cut would mean the CNMI government budget is just 60 percent of what it was a few years ago when the economy was kept buoyant by the garment industry and tourism.