Samoan Finances
p. 55 · Read in the full issue
From Our Own Correspondent.
APIA, August 30.
THE Administration estimates of Revenue and Expenditure for the year 1934-35 have just been issued, after be ing confirmed by the New Zealand Gov ernment, and present a more favourable picture of the Administration’s finances than was to be expected in the circum stances.
The receipts during the financial year, 1933-34, amounted to £90,613 compared with an estimate of £86,325, while the ex penditure during the year came to £89,955 against an estimate of £94,919, thus showing a surplus for the year of £658 against an estimated deficit of £8,594.
The comparatively favorable result of last year was mainly due to higher re ceipts for export duty on copra, cocoa and bananas, and on the other side the saving of over £5,000 effected by re trenchment in all Administration depart ments.
For the current year, terminating on March 31, 1935, receipts are estimated at £71,520, and expenditure at £74,101, giving an estimated deficit of £2,581.
Owing to the drop in copra and cocoa prices during the current year and the re sulting decrease in revenue for the Ad ministration it may be considered very doubtful whether this year’s estimated de ficit can be confined to the amount given in the estimates. There are at present no indications whatever of an improve ment in the economic situation of most of the Pacific Islands.