19 Mar 2003

Supplementary budget not necessary says Cook Islands deputy prime minister

4:09 pm on 19 March 2003

The Cook Islands deputy prime minister, Dr Terepai Maoate, has ruled out the possibility of a supplementary budget.

He says revenue may well decline in the coming year and he's cautioned ministerial departments to keep an eye on their costs.

Dr Maoate, who's also the Finance minister, says therefore, he doesn't see the need for a supplementary budget.

"It's very unlikely at this stage because I don't see in the forecast any new money coming in, in fact, if anything, it's probably going to be a decline in revenue, so I don't really see the need for a supplementary budget because there is nothing to see around and it would just be housekeeping which we can do without"

Dr Maoate says work is well underway to finalise this year's budget and it's expected to be presented by June.