23 Dec 2005

New Caledonia provinces pass total of US$600m in budgets

5:08 pm on 23 December 2005

New Caledonia's Northern and Southern provinces have this week endorse a cumulative total of US$600 million worth of budgets for 2006.

The Northern Province's Parliament passed its 2006 budget yesterday, for a total of US$213 million.

The Southern province, believed to be New Caledonia's most populated and richest, also passed its indicative appropriation bill yesterday, for a total of US$405 million.

Over US$100 million, in the budget, are earmarked for investments.

The rest of the budget also places a focus on social housing, with a pledge to build some one thousand units per year, renovating schools, and promoting economic development.