16 Sep 2003

No supplementary budget planned in PNG

4:31 pm on 16 September 2003

Papua New Guinea's Finance and Treasury Minister Bart Philemon says a supplementary budget will not be introduced into parliament.

Mr Philemon says he will inform Parliament on the necessary expenditure adjustments to maintain the planned deficit level.

The National reports he was responding to questions raised by Opposition Leader Sir Mekere Morauta on earlier plans to implement a supplementary budget if there were unrealised financing items in this year's budget.

Sir Mekere says it would result in adequate funding for budgeted activities, but had severe implications for public enterprises.

He says recent media reports have detailed government plans to cut expenditure and increase taxes.