Begaye focuses on economy in State of the Nation speech

FARMINGTON, N.M. (AP) - Navajo Nation President Russell Begaye says the nation was facing a financial crisis before its current fiscal year began.

The Daily Times reports (https://bit.ly/2dZ84hP ) that during his State of the Nation address Monday, Begaye focused on the economy and the work he and the Navajo Nation Council did to avoid a $21 million budget shortfall before fiscal year 2017 began on Oct. 1.

Begaye said the shortfall would have led to employee layoffs, but the issue was eased when the tribe turned to “rainy day funds” to make up the gap. During his address he warned that that option is not available should a shortfall occur for fiscal year 2018.

Begaye said planning for the financial future is vital and that his administration has formed a task force to begin looking at how to ease a shortfall in the future.

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Information from: The Daily Times, https://www.daily-times.com