Another Year Of Living Dangerously?

May 2007 | Economic Analysis

BMI View: The government has recommended a US$9.23bn budget for fiscal year 2007-08 (FY07/08), which promises to both tighten the annual expenditure programme and help lift the local economy out of the doldrums. Opponents claim the proposals flatter to deceive, with a heavy reliance on newly-implemented tax measures that have yet to prove successful. Either way, we are concerned that another tough fiscal year lies ahead, which will likely see the budget position remain firmly into the red.

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