Dr. Marial Dongrin Ater, the Minister of Finance and Planning delivering his speech at handover ceremony on July 15, 2024 - Eye Radio/Lou Nelson

The Minister of Finance and Planning announced that the government will reduce non-priority public sector spending as part of austerity measures to tackle the current economic challenges in the country.

Dr. Marial Dongrin Ater said there is a need for fiscal discipline amidst the country’s ongoing economic challenges.

He highlighted the imperative for the country to adopt a disciplined approach to managing its limited resources.

Dr Dongrin suggests the need to follow an austerity measures approach to cut non-priority expending government institutions.

Drawing parallels to household budgeting in lean times, he underscored the importance of prudent spending and exploring new avenues for revenue.

“We must come to term with the reality that the prevailing challenges require us to live within our means and judiciously manage our limited resources like never ordinary and prudent household lean times force people to ration what they have while looking for ways to bring in more,” Minister Dongrin stated during handover ceremony.

“We are in a similar place today and these compels us to pursue focus austerity approach as such,” he said.

“The necessary pain and sacrifices required to get us out of these difficulty shall be equally borne by all and that will include cutting non-priority public sector expenses, this will ease pressure on and direct recourses towards facilitating the recovery program that we shall soon roll out.”