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The Autonomous Bougainville Government currently operates on an annual budget of K360 million (US$110 million) allocated annually by the National Government while the ABG itself is only able to generate K20 million annually in internal revenue from taxes.
Member for Kokoda, Rodney Osioco clarified this when correcting an article in Wednesday’s issue of the Post Courier which stated that the ABG was operating on a K20 million budget from the National Government.
Osioco said the K20 million (US$6 million) being raised each year by the ABG was insufficient to adequately deliver services especially if Bougainville wants to achieve financial self reliance.
It is understood the National Government owes the ABG about K960 million (US$295 million) in outstanding grants which it is obligated to provide under the Bougainville Peace Agreement....
SOURCE: POST COURIER/PACNEWS
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