The Legislative Assembly of Tonga passed the first reading of the 2024/2025 Appropriation Bill 2024 today. They are planning for expenditure of $899.2 million (US$ 380.24 million) with $452.3 million (US$191.37 million) to be funded by Government and $446.9 million (US$189.06 million from development partners.
The Chief Clerk reported that the Bill compromised the Government’s budget estimates for the period commencing 01 July 2024 and ending 30 June 2025.
When introducing the Appropriation Bill to the Legislative Assembly today, the Minister of Finance, Tiofilusi Tiueti said, “The budget for the Financial Year 2024/25 was guided by the theme ‘Building the foundations for sector-driven economic growth and sustainability’ focusing on enhancing growth and development for the benefit of the entire population of Tonga. This budget prioritises Government’s greatest asset: the People of Tonga.”
The Government targets a balanced budget in 2024/25 with total revenue of 899.2 million US$ 380.24 million) and total expenditure of $899.2 million (US$ 380.24 million) $452.3 million (US$191.37 million) is funded by the Government of Tonga and $446.9 million (US$189.060 million) is funded by the development partners.
The Chief Clerk stated that after the Appropriation Bill passed through first reading, it was referred to the Assembly’s Public Accounts Standing Committee where it will be scrutinised, together with corporate plans from the Government’s ministries for the same financial year.
The Committee will report back its findings to the House on 6 June 2024. The House will resume its meetings then, where the Appropriation Bill will proceed to second reading.
“Deliberations on the budget will continue over the meetings that have been scheduled,” she said.