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Koror, Palau (June 10, 2024) – Palau President Surangel Whipps Jr. yesterday signed a supplemental budget bill that increases the total budget to $133,629,954 for fiscal year 2024. A second supplemental budget is expected to bring the total to $140 million.
Whipps said the budget “comes at the right time” to provide funding for urgent matters, including Palau’s participation in the Mini Games. The athletes are due to depart on Wednesday this week and the budget was enacted yesterday. “I had to speak to the executives of Nauru Airlines and tell them we will pay on June 10 and trust that it will come through in time,” Whipps said, stressing the timeliness of the budget.
The budget also provides funding for Palau to attend the Festival of the Pacific (FestPac) being held this week in Hawaii. Participants left last week before the budget was passed, using funds from the Department of Human Resources, Culture and Development (HRCTD). Whipps confirmed that those funds will be reimbursed with the passage of the bill.
Whipps highlighted several social programs authorized and funded by the supplemental budget, including an increase in child support subsidies, a tax rebate for individuals earning $15,000 to $30,000, a $480 tax credit for retirees and support for medical retirees.
However, not all of Whipps’ budget requests were approved. Olbiil Era Kelulau (OEK) increased funding for some ministries and programs while reducing others. Whipps plans to submit a second supplementary budget and expressed hope that the OEK would be able to restore key funding, such as that for the Ministry of Health.
Whipps noted that the remaining $7 million in the Compact Review Agreement for infrastructure and maintenance must be budgeted this year and that he intends to address it in the second supplemental budget bill for fiscal year 2024.
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