Western Samoa,
p. 25 · Read in the full issue
Frugality Is
The Keynote
From an Apia correspondent Western Samoa has another
sterity Budget. The Minister
Finance, Mr. G. F. D. tham, told the Assembly at s end of November that the er-effects of last year’s hurri le and banana disease would ult in export earnings being lost half normal for the third isecutive year and that an up ■ge in the economy was un dy for at least another two irs.
Significant restraint on spending lin the country will be required some time to come,” said Mr. ham. The squeeze would be felt nany areas of Government spend and the Assembly would bably be called to a special session y next year to consider taxation eases.
Frugality is the keynote,” he said.
Expenditure of $5,388,425 for next r is $292,935 less than this year, mated deficit is $21,735. le said that vigorous efforts were be made to obtain overseas aid capital expenditure urgently :led for development.
Cattle project
he Budget provides $103,000 to ble Asau harbour to be opened t year. Some $13,240 has been aside for a new beef cattle pro tion project. i spite of the difficulties facing country Mr. Betham said he was fident that “in the long run, there golden future for Western Samoa its people”. He then presented e figures which could bear this [e said that since independence 962 Samoa had had a favourable ince of payments in every year one and he indicated that if any alance occurred this year it would be much. [e predicted an increase in cocoa Drts next year from 3,350 tons 1,000 tons; an increase in copra 3rts from 7,500 to 12,000 tons; an increase in banana exports
to New Zealand from 100,000 to 250,000 cases.
In addition Mr. Betham said other exports showed “a most encouraging development”, with small crops jump ing from $60,000 in 1966 to an expected $290,000 this year.
With these trends expected to con tinue, together with an expected $1,000,000 loan from the Asian Development Bank; a start by Potlatch Forests Inc. on their development of the Savaii timber industry involving the expenditure of millions of dollars; the steadily accelerating growth of tourism, plus the substantial drop in the cost of living resulting from UK and NZ devaluation, the Samoan public is a lot happier about the immediate future than apparently the Minister of Finance is.