26 Mar 2013

Vanuatu's new Finance Minister keen to review recent budget

5:06 am on 26 March 2013

Vanuatu's new Finance Minister says he wants to review the recently approved national budget.

Willie Jimmy says today he will seek assurances from heads of all public departments that they can achieve their budget targets.

Mr Jimmy says he's not comfortable with the explanation of the budget by the previous government which recently tabled a 2013 budget of 260 million US dollars, fifty percent higher than last year.

"So I would like to have my own assurances from the main state revenue collection, major government departments like the Customs, VAT office, Vanuatu Services Commission, and then there are some contradicting economic comments that I'm not satisfied with between the Reserve Bank, the IMF and the Vanuatu Investment Promotion Authority."

Willie Jimmy says statements by the former government forecasting growth in Vanuatu's economy contradict the Authority's reports about four consecutive years of declining investment in the country.