25 Apr 2013

CNMI's administration revises proposed 2014 budget

10:36 am on 25 April 2013

The Northern Marianas Inos administration's proposed fiscal year 2014 budget has now been revised to 123 million US.

Its original projection was 114 million, and later changed to 120 million dollars.

The revision comes as tourism arrivals continue to grow and cost-cutting and revenue-generating bills pile up at the Legislature.

The latest of such proposals include Representative Christopher Leon Guerrero's bill eliminating bonus, within-grade and merit increases for government employees, which was pre-filed yesterday.

The Saipan Tribune reports Lieutinent Governor Jude Hofschneider acknowledging the proposed spending package remains below the annual budget in past years but said the administration is optimistic that the tourism-based economy will continue to improve.

The CNMI budget breached the 200 million dollar mark in 1996 before peaking at 247 million dollars the following year.

Since then, it has been almost downhill due to the slowdown in tourism and the shutdown of garment manufacturing four years ago.