2 Sep 2002

New Zealand has offered to help Niue improve its financial management

12:28 pm on 2 September 2002

New Zealand has offered to help Niue improve its financial management.

The island on Friday passed its Budget after a seven week delay while the Government looked for ways to reduce a deficit of nearly a million US dollars.

An attempt to pass a tough budget three weeks ago failed, but a modifed version, which will reduce the deficit to around seven hundred thousand US dollars was finally approved.

The country has few revenue streams and is largely dependent on the aid money it gets from New Zealand.

The Premier, Young Vivian, says New Zealand is also willing to provide help in other ways.

"New Zealand has agreed to assist us by providing an analyst to work together with us through the budget to see where they can assist us with our immediate problems and also about the future, how we will be able to cope with the future."