State agencies to undergo reform

There will be merging of functions between some National Departments and Agencies to cut costs and remove duplications.

Central Bank Governor Loi Bakani highlighted this in his 2016 December Quarterly Economic Bulletin.

He said Public sector reforms undertaken by the Government in 2017 are aimed at improving the quality of public sector spending.

However, he said the private sector will benefit from these reforms such as: encouraging competition through focusing on efficiency in the SOEs; removal of some regulatory requirements of doing business; supporting productivity in tourism and agriculture sectors; and facilitating the evolution of the financial services sector.

Bakani added that other public sector reforms that is on-going such as freezing staff recruitment of unattached officers, roll-out of the new Integrated Financial Management System Reporting System, and inter-governmental financing where revenue sharing formula is used between three levels of Governments.

Freddy Mou