Minister of Finance Shigemoto says 2012 National Budget Balanced

Preparations are underway to send the 2012 National Budget to the Committee of Financial Supervision CFT after the Council of Ministers (COM) approved a balanced budget on Monday, Minister of Finance Hon. Hiro Shigemoto announced on Tuesday.


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The 2012 balanced budget is Naf.432.549.600 million or Naf.11.633.003 million more than the 2011 budget of Naf.420,916.597 million.

While the CFT is reviewing the budget, it will be discussed simultaneously with the Council of Advice.

The Minister of Finance expects to receive the CFT advice two weeks after they have reviewed the national budget. The advice and budget will then be sent officially to the Council of Advice whose main focus can then be on the advice from the CFT.

When the COM receives the budget back from the Council of Advice, it will be sent to the Governor who will then send it to Parliament.