This year, unlike last year, there are pre-budget negotiations. Does this mean that the budget this year will be more populist that the last one?

Pre-budgetary consultations have always been a major feature of the budget preparation process. Be it by way of memorandums or direct interaction with the different socio-economic stakeholders, this exercise means a lot to me. It is an occasion to feel the pulse of the nation through the social and economic leaders and better understand the concerns and aspirations of the population. Direct interaction, I believe, provides the opportunity to the representatives of the various sectors to voice out their opinion and I feel they like the personal touch. The whole exercise definitely helps towards presenting a budget that takes on board the expectations of the people as far as possible.

Up to now, in what sort of atmosphere have the negotiations been taking place?

Till now everything has been fine. I have listened to quite a number of stakeholders, including socio-cultural groups and religious bodies. They have voiced out their opinions and have also submitted documents that we will study. We will try and consider as much as possible the suggestions made. The exchanges have been enriching, the meetings have taken place in a serious and responsible manner. The population has also been invited via Internet to send their proposals and we have received about 60 up till now.

What will the important issues of the 2004-2005 budget be ?

The main priorities of the coming budget will be to further reduce the budget deficit and control public debt. Re-structuring domestic debt is also on the agenda. The concentration on short-term loans is detrimental and we will try to spread the loans over longer periods. Another issue we will tackle is boosting private sector investment to ensure an appropriate environment that will encourage economic development and job creation. We will also try and respond as far as possible to the aspirations and expectations of the people, especially those at the bottom of the social ladder and to pursue the crusade against poverty and social exclusion.