9 Dec 2011

EU and China to cover Vanuatu budget deficit

4:16 pm on 9 December 2011

The European Union and China have agreed to meet a nearly 8 million US dollar budget shortfall in Vanuatu.

The finance minister, Moana Carcasses Kalosil, says the EU will pay the bulk of the outstanding figure.

The government failed to reach its set revenue target of just over 132 million US dollars this year.

Parliament is currently debating a much bigger budget for next year, more than 154 million dolalrs.