What is the full name of the man who delivered the budget for The Nauru in 2017-2018?
In the 1990s, Nauru became a tax haven and offered passports to foreign nationals for a fee. The inter-governmental Financial Action Task Force on Money Laundering (FATF) identified Nauru as one of 15 "non-cooperative" countries in its fight against money laundering. During the 1990s, it was possible to establish a licensed bank in Nauru for only US$25,000 with no other requirements. Under pressure from FATF, Nauru introduced anti-avoidance legislation in 2003, after which foreign hot money left the country. In October 2005, after satisfactory results from the legislation and its enforcement, FATF lifted the non-cooperative designation.From 2001 to 2007, the Nauru detention centre provided a significant source of income for the country. The Nauruan authorities reacted with concern to its closure by Australia. In February 2008, the Foreign Affairs minister, Dr Kieren Keke, stated that the closure would result in 100 Nauruans losing their jobs, and would affect 10 per cent of the island's population directly or indirectly: "We have got a huge number of families that are suddenly going to be without any income. We are looking at ways we can try and provide some welfare assistance but our capacity to do that is very limited. Literally we have got a major unemployment crisis in front of us." The detention centre was re-opened in August 2012.In July 2017 the Organisation for Economic Co-operation and Development (OECD) upgraded its rating of Nauru's standards of tax transparency. Previously Nauru had been listed alongside fourteen other countries that had failed to show that they could comply with international tax transparency standards and regulations. The OECD subsequently put Nauru through a fast-tracked compliance process and the country was given a "largely compliant" rating.The Nauru 2017–2018 budget, delivered by Minister for Finance David Adeang, forecasted A$128.7 million in revenues and A$128.6 million in expenditures and projected modest economic growth for the nation over the next two years.
David Adeang