Davies THE 2001/2002 Budget Debate will begin this afternoon at Gordon House, Kingston, with the opening contribution of Minister of Finance Dr. Omar Davies.
Dr. Davies is expected to address the predicted growth in the economy, strategies for debt containment, interest rate targets, efficiency and modernisation in tax administration, the budget surplus and improving financial management, accountability and transparency in the public sector.
A summary of FINSAC's liabilities, net borrowing of domestic debt over the past four years, the assumptions on which the budget is predicated and external debt service requirements for 2001/2002 to 2005/2006 are also expected to be addressed by the Minister.
Other issues include the setting up of the Financial Services Commission (FSC) this year, reflecting the merger of the Securities Commission and the Office of the Superintendent of Insurance. The Securities Commission is to be incorporated into the FSC within the first quarter of the fiscal year.
Opposition spokesman on finance Audley Shaw will respond to the Minister next Tuesday. Leader of the Opposition Edward Seaga will speak on Tuesday, April 24 and Prime Minister P.J. Patterson on Wednesday, April 25.
Dr. Davies will close the debate on April 26.
