The government is not flushed with money and people need to realize this as we approach the 2012 National Budget announcement.
Those are the words of the Chief Executive of the Fiji Commerce and Employers Federation, Nesbitt Hazelman as he stressed that people should understand that additional allocations mean more revenue measures through taxes or more borrowing.
Hazelman said tough decisions have to be made.
According to the 2011 National Budget, government’s total debt stock was $3.1 billion in 2009 compared with $2.9 billion for 2008.
The 2010 debt stock of both domestic and external debt was estimated at $3.4 billion.
Meanwhile the Federation will also be watching closely on the incentives offered in the National Budget that will assist businesses in dealing with rising costs.
The 2012 National Budget will be announced on Friday.
Story by: Vijay Narayan
Feature
Tough decisions have to be made
