News

Budget will be passed: Professor Prasad

July 5, 2023 4:15 pm

Minister for Finance,Professor Prasad

The Minister for Finance is confident that the 2023-24 national budget will be passed.

This is despite concerns about votes swinging in the opposite chambers given the past event that saw Prime Minister Sitiveni Rabuka win parliament by one vote; the vote was from the coalition party.

Professor Prasad is confident the coalition government is in it for the long run.

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“The budget will be passed, the Coalition government is strong and we’ll be there for four years, whatever 3.5 years left now. So, just relax and be happy.”

Meanwhile, the Coalition government cannot borrow more than $1.15 billion in this financial year.

This was stated in the appropriation bill, which will come into force on August 1, 2023.

The legislation will be cited as the 2023-24 Appropriation Act 2023 if it is passed by parliament.

The 2023-24 Appropriation Act 2023 is the legislation that mandates the government to appropriate $3,761,979,404 from the Consolidated Fund or other funds of the State and apply it to the ordinary services of the Government for the financial year ending July 31, 2024.

 

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