Budget on target, Marape says

 FINANCE Minister James Marape says the 2015 budget is on target.

Marape said although the economy would be facing some tough times following the fall in oil prices and many of the county’s mineral prices, the Government was on track with its money plan.

“Being dependent on revenues from its mineral exports and other commodities, the Government is mindful of these economic challenges,” Marape said.

“But let me assure the people that our budget is on target and as scheduled. The 2014 accounts were closed on time with only 3 per cent of 2014 commitments brought forward to 2015.”

He was responding to a question from West New Britain Governor Sasindran Muthuvel on whether government was on track with its money plan for 2015 and if 2014 budget was closed on time.

Marape said 97 per cent of the 2014 budget had been fulfilled. Projects and funds earmarked for them last year were expended as planned.

Marape told the MPs that the onus was on them to acquit their PSIP and DSIP funds for 2014 because acquittals would mean the release of funds for the development programmes.