Sao Tome approves Budget for 2006 with investments in ports and airports

7 March 2006

Sao Tome, Sao Tome and Principe, 07 March – The Sao Tome and Principe parliament unanimously approved the State Budget for this year, which includes an increase in spending and investments in the archipelago’s new port and airport, according to local press reports.

The document outlines spending of a total US$87 million, 35 percent of which is for general expenses and 65 percent for capital expenses, including paying off foreign debt.

Speaking after the approval in the National Assembly, Prime Minister Maria do Carmo Silveira said that, “this public investment program is the response that is possible to provide for increasing social demands and for improving the life of the population.”

The budget includes payment of subsidies owed to laid off government workers as well as two of the most important public works ever carried out in the country – the new deep water port and the refurbishment and expansion of its national airport. (macauhub)