New Caledonia’s supplementary budget approved by the Congress
New Caledonia’s Congress has voted in favour of the supplementary budget for 2020, which was approved on Thursday 17 September 2020.
The budget, totalling $13.7 billion CFP ($135.1 million USD), has been increased due to COVID-19, in order to cover the costs associated with the health crisis management. Additionally, a loan of $28.6 billion CFP ($282.2 million USD) has been ratified by the Congress, which will be provided by the French Development Agency and guaranteed by the state.
Virginie Ruffenach, member of Congress, described the supplementary budget as “responsible” and “rigorous”. Ms Ruffenach said it will ensure New Caledonia’s economic future.
New Caledonia’s two other supplementary budgets were passed on Wednesday 16 September 2020. They relate to monetary repayments and allocation, from which $4 billion CFP ($39.4 million USD) will go towards repaying public establishments and $7.7 billion CFP ($75.9 million USD) to the communes and provinces.
New Caledonia’s overall budget this year is estimated at $326 billion CFP ($3.2 billion USD), almost $50 billion CFP ($493.3 million USD) more than last year.
Source: https://la1ere.francetvinfo.fr/nouvellecaledonie/le-budget-supplementaire-a-ete-adopte.html