PM hopes not to seek international loans for budget

PRIME Minister James Marape says they hope not to seek international loans to fund a possible supplementary budget.
He said their first priority was to look at their internal revenue to fund it without harming the economy.
“And, of course, we will stick to our core priorities. When times are tough, we will try to ensure that seeking loans come second,” the prime minster said.
“But first and foremost, we will look internally – what can we do to control the expenditure without killing the economy and so finding the right balance is a task for us to think and control the expenses.”
Marape said they were reviewing the 2019 Budget to determine the possibility of a supplementary budget.
“The new Treasurer, Ian Ling-Stuckey, is reviewing the numbers and figures that we have to ensure that the budget is on track given the current struggling situation of the economy.
“If need be, we will pass a supplementary budget to keep our head above the water.”
Marape said two things caused a supplementary budget to be made – when there was extra revenue in the national budget or when the economic focus and revenue had gone offline.
“I have given my instruction to Treasury for a supplementary to review the financial performance for the last two months or so to know where we are. So the former treasurer and now the National Planning Minister (Sam Basil) has started on the journey of looking at a budget.”
Marape said Ling-Stuckey, who had been in the Opposition as the shadow treasurer, has been given an opportunity to go in and confirm or dispel the numbers he had been hearing and seeing when in the Opposition.
“Once we have a confirmed view on the numbers, and all indications point to a supplementary for the rest of this year, then we will make adjustments and if there is a need for readjustments.”
Finance Minister Charles Abel said outstanding arrears for contracts for the private sector would be one of the subjects of the supplementary budget to settle.
Abel told The National that an audit was being carried out on outstanding payments for service providers and they were waiting for the conclusion of the audit.
“I’m not stopping any of the legitimate payments or bills, it’s a budget management committee decision and process to release some money to pay those bills. It’s in the context of the broader arrears issue to the private sector, it’s not just Apec, there’s quite a lot of other private sector arrears outstanding,” Abel said.
Cabinet has directed that every provincial government and district gets one bus or one vehicle.
“It’s ongoing as part of the exercise, there’s another 350 odd vehicles that are still being auctioned or distributed so this is part of the 111 vehicles,” he said.