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Article: Budget showed over-reliance on New Zealand.
- Article from:
- PAC - Pacific Islands Broadcasting Association
- Article date:
- July 28, 2003
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28 JULY 2003 ALOFI (Pacnews) - Reports from Niue say Finance Minister Toke Talagi's budget speech last week indicated the island state's over-reliance on New Zealand aid.
Niue News reports that Niue "is becoming increasingly dependent on New Zealand as the country struggles to retain its resident population and keep the life rafts afloat under a faltering economy".
Mr Talagi's 2003/2004 budget, with a $1.7 million (US$1,000,450) deficit, highlighted the need for continuing dependency accentuated by previous years of government inefficiency and a string of budget blowouts.
Presenting his second budget to the Assembly, Minister Talagi said he ...