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Atalig: Yearend shows deficit
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Posted on Jan 05 2021
Finance Secretary David DLG Atalig said he has completed his yearend report for fiscal year 2020 and it “obviously” shows a deficit for the previous fiscal year.
Speaking at a radio news briefing last week, Atalig said he did a final review of the report that morning, Wednesday, and it would be submitted subsequently to Gov. Ralph DLG Torres and to the Legislature that same day.
Atalig said what is expected from his report is a lot of expenditures due to COVID-19, the challenges the CNMI had with the economy, and the lack of flights coming in, all coming together to hammer the government’s finances as well as the economy. He said these will be discussed in details in his report.
“It’s expected and it’s obvious I am showing a deficit in this fiscal year and highlighting the reasons for it, and showing where and how we got to where we are today,” he said.
Atalig noted that a lot of challenges they had with COVID-19 played a role in the government’s finances. He said that, as he had mentioned earlier, the CNMI government did spend quite a few of the CNMI’s resources to battle or combat this pandemic.
“And this shows in…our numbers,” he said.
Atalig said that Torres’ and the COVID-19 Task Force’s communications and close working relationship with Finance as a team not only minimized the government’s expenditures, but also highlighted the importance of funds needed to get through this and find the resources.
He said his report will show the breakdown of those resources that were obtained and received.
