12 Sep 2009

American Samoa's budget sees a drop

9:40 am on 12 September 2009

The American Samoa Government has produced a budget for the coming year of 335 point 8 million US dollars.

This is two percent or about six million dollars less than the budget for the current fiscal year.

The decline is attributed to a 4% drop in projected local revenues and a 3% decline in forecasted federal grants.

The budget breakdown is 137 point five million dollars from Enterprise Funds, 98 million from federal grants while local revenues account for about 20 percent of the total.

The House and Senate are to hold joint budget hearings beginning Wednesday.