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Sun, January 5, 2025
[ Sun, Jan 05th ]: mvariety
Category: Business and Finance
Governor: FY 2024 revenue exceeds projection by $4.9M

Governor: FY 2024 revenue exceeds projection by $4.9M

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GOVERNOR Arnold I. Palacios, in his annual report last week to the Legislature, said the CNMI government collected $4.9 million more than what was projected in fiscal year 2024.
The article from Marianas Variety reports that Governor Arnold I. Palacios announced that the fiscal year 2024 revenue for the Commonwealth of the Northern Mariana Islands (CNMI) has exceeded projections by $4.9 million. This surplus was largely due to an increase in business gross revenue tax collections, which were $3.5 million above the projected figures. Additionally, the Department of Public Lands contributed $1.4 million more than expected. Governor Palacios highlighted these figures during a press conference, emphasizing the positive economic indicators and the government's commitment to fiscal responsibility. He also mentioned ongoing efforts to improve tax collection efficiency and compliance, aiming to sustain and possibly increase future revenues.

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