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Oct 31, 2001

Cabinet to hand in revised budget

The Government says the country’s currently uncertain economic situation has called for a new budget. At cabinet’s meeting on Tuesday, the cabinet agreed that given the effects of Hurricane Iris and the terrorist attacks in the United States, a revised budget will be presented to the House of Representatives next month. G.O.B. says ministers and chief executive officers will be meeting with officials from the ministry of Finance and Budget Management to reassess and re-prioritize expenditures. Government also went on record as to state that the belt tightening measures will not include job cuts but did stipulate that there would be “re-positioning” of personnel and “re-allocating” of resources to improve efficiency. This week cabinet has also decided to begin to phase out the food distribution process that’s been in place for the victims of Hurricane Iris. G.O.B. says the move is to return the residents of the affected areas to a state of normal economic activity as soon as possible. But while they’ll soon stop handing out food, G.O.B. says the emphasis will now be on making building materials and concessionary loans available.

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