Minister of Economic Affairs, Sen. Hon. Michael Halkitis led debate on the 2024-2025 budget in the Senate on Wednesday.

During his presentation, Halkitis spoke of the success of the government’s procurement procedures. He said, “as of May 2024 we have calculated the government has saved over $16 million since the introduction of the Go Bonfire Procurement Portal, 6,377 vendors have registered on the portal and 4,177 opportunities have been provided through the portal. This is a public procurement portal where opportunities are uploaded and everyone around the country can see what opportunities available, they can bid on it and the successful bidders are published.”

The Minister said in the ninth month period from July 2023 to March 2024 the government collected $2.2 billion. “Our improved revenue performance can be attributed to a $136.9 million increase in tax revenue.”

The government expects $3.54 billion in revenue and $3.61 billion in expenditure for the next fiscal year.

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