Sao Tome’s 2006 budget extended pending approval of this year’s financial plan

19 January 2007

Sao Tome, Sao Tome and Principe, 19 Jan – President Fradique de Menezes of Sao Tome has decided to prolong the government’s financial blueprint for 2006 due to delays in approving the archipelago’s state budget for 2007.

In a statement Thursday, de Menezes said one-twelfth of the total 2006 budget figures would be used on a monthly basis to calculate public spending until parliament approves the government’s budget plan.

The archipelagos’ 2007 budget proposals have yet to be approved by Sao Tome’s lawmakers due to threats from the regional government in Principe Island to resign in protest at reduced funding to Sao Tome’s tiny northern neighbour.

Presented to MPs a week ago, the 2007 budget predicts expenditure of over US$ 100 million, some US$ 20 million more than last year’s budget, that was mainly targeted on the sectors of education, health and infrastructures. (macauhub)