The Nitijela is expected to return to session this week Thursday to hear the report of the Appropriation Committee on the proposed $297.5 million FY2023 national budget.
The committee wrapped up a week of public hearings Monday this week. The hearings were briefer than some past years due to Nitijela opening the third week of August, later than usual, due to parliamentarians returning through quarantine processes.
Finance Minister Brenson Wase introduced the budget bill to Nitijela last month. At $297.5 million, it is an all-time record high for a national budget in the Marshall Islands. The previous highest budget was FY2021 at $257.8 million. The current year budget, that ends September 30, was for $242.9 million.
The FY2023 budget is expected to pass second reading Thursday after introduction of the Appropriation Committee’s report on the hearings. They were chaired by Nitijela Member David Paul.
If adopted on second reading Thursday, this would set the stage for third reading and final approval Friday. The new fiscal year starts October 1.
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