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USVI governor submits lean budget amid crisis
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SAN JUAN, Puerto Rico - The governor of the U.S. Virgin Islands says he was late in submitting an $854 million budget because of the strain on the local economy.
Gov. John deJongh says the 2010 budget relies heavily on loans, internal borrowing and an anticipated $176 million in federal money.
The budget is $13 million smaller than the one initially submitted last year. The 2009 budget was later reduced in January by $24 million.
DeJongh says construction of a Captain Morgan rum distillery in St. Croix will help boost revenue. The U.S. Caribbean territory agreed last year to issue $165 million in bonds to help build it.
He said Friday that the government still plans to build a new school in St. John and establish a bureau of corrections.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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