[Photo: FILE]
The government is expecting a decline in revenue as economic conditions slow, according to Finance Minister Esrom Immanuel.
Speaking ahead of tomorrow’s National Budget announcement, Immanuel says the country’s current financial challenges have been compounded by the ongoing global fuel crisis.
He says while economic conditions remain challenging, the government remains committed to ensuring that key services and projects continue without disruption despite pressure on public finances.
The Finance Minister says this approach is aimed at maintaining economic stability while supporting critical national development priorities.
He says the 2026–2027 National Budget will focus on stabilizing the economy while laying the foundation for future growth.
“We are putting strategies and action plans in place so our economy can be protected, and our people as well. So for our people, do not panic. The coalition government is aware of the issues and is putting in place strategies and action plans to address those challenges. That is what we continue to say to everyone, including our colleagues in Parliament — we should not panic.”
Immanuel says the government is also placing greater emphasis on capital expenditure in the upcoming budget.
He says this includes major development projects aimed at boosting economic activity while strengthening national resilience.
“Some of the big projects that we are supposed to do, we are going to implement them in this financial year, at least start them this financial year. That will be good for us, not only to grow the economy but also prepare us to be resilient in case something happens in the future, whether it is natural disasters, issues such as what we are facing now, wars, or even climate change.”
Immanuel says many of the programmes introduced before and during the crisis will continue, as uncertainty remains over when global fuel conditions will improve.
He says the government has taken a firm approach in responding to the crisis, with tough measures introduced across ministries, departments, and agencies expected to remain in place.
