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Fiji Time: 9:41 AM on Wednesday 10 February

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Reforms deadline set for June

1302 FJT
Monday, February 19, 2007

Update: 1.02pm THE Financial Management Reform currently under way is expected to be completed by June, when a new system is expected to be implemented.

Interim Finance Minister Mahendra Chaudhry says the Government intends having all financial information centralised with a daily monitoring of revenue and expenses for various ministries.

"The immediate major challenges vary from the decline in exports to agriculture and rural development," Mr Chaudhry said.

"The interim administration has just begun, so you know there will be quite a lot of changes in strategies in policies, in resource allocation to the various sectors." 

Mr Chaudhry says they will move resources from unproductive sectors and put them in productive areas.

"So I say this budget is an emergency budget. It is a stop-gap measure we're taking to stabilise government finances and set a new direction for the economy," he said.

The Minister urged a bump-up in exports to stabilise Fiji's economy.

"We have an export enhancement strategy that is being further refined, but we will have to provide incentives to the export sector. That is a major challenge,'' he said.

End of story

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