26 Apr 2013

CNMI budget increases

8:40 am on 26 April 2013

The Northern Marianas Government is looking at a bigger budget than initially planned.

From the original projection of 114 million US dollars the Eloy Inos administration is now proposing a fiscal year 2014 budget of 123 million as receipted from sectors such as tourism continue to grow and the government's cost-cutting has an impact.

The lieutenant governor, Jude Hofschneider, says the revised projected revenue is a result of tighter enforcement and the renewed interest in the CNMI shown by tourists.

He acknowledged that the proposed spending package remains below the annual budget in past years but said the administration is optimistic that the tourism-based economy will continue to improve.

The CNMI budget peaked at 247 million dollars in 1997.

Since then a slowdown in tourism and the shutdown of garment manufacturing had caused a steady decline in government income.