Parliament

Government questioned over borrowing limit

Opposition MP Hon. Viliame Gavoka in an oral question today in parliament questioned if the Government’s borrowing was still within the prescribed limit. The Attorney-General and Minister of Finance Hon. Aiyaz Sayed-Khaiyum said that the Fijian Government was well within the prescribed borrowing limit. SAYED-KHAIYUM:”I can confirm to this house that Government is well within […]

Salote Qalubau

June 2, 2016 3:00 pm

Opposition MP Hon. Viliame Gavoka in an oral question today in parliament questioned if the Government’s borrowing was still within the prescribed limit.

ag-and-viliame-gavoka
The Attorney-General and Minister of Finance Hon. Aiyaz Sayed-Khaiyum  and Opposition MP Hon. Viliame Gavoka. (Peni Shute/Newswire)

The Attorney-General and Minister of Finance Hon. Aiyaz Sayed-Khaiyum said that the Fijian Government was well within the prescribed borrowing limit.

SAYED-KHAIYUM:”I can confirm to this house that Government is well within the approved borrowing  limit.”

According to the 2016 Budget Appropriation,  Government borrowings for 2016 should not exceed the sum of   four hundred forty-five million four hundred thirty-six thousand six hundred fifty-eight dollars ($445,436,658).

In a supplementary question opposition MP Hon. Ratu Sela Nanovo asked where did the Government find the finance to provide assistance during Tropical Cyclone Winston.

SAYED-KHAIYUM: “In my ministerial statement and earlier on in the week I have also said that a number of the initaitves that Government has been financing  for example “Help for Homes” has actually been financed by redeployment of funds.”

In  the second supplementary question opposition MP Hon. Samuela Vunivalu asked if all borrowings exceeding the prescribed limit were brought to parliament.

Hon. Sayed-Khaiyum said every government exceeding the prescribed borrowing limit would have to bring this issue to parliament.

SAYED-KHAIYUM: “As everybody in this parliament should know, that if any government is going to go over the prescribed limit set by parliament in the budgetry process they will obviosuly have to come to parliament. If you are going to go over the presribed borrowing you have to come to parliament so obviously we are within the prescribed limits that have been set by parliament.”

“Madam Speaker, the reality is that it is feature that when ever you have an unbudgeted event you actually can redeploy funds.”

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