-
by pltm
(PLTM) - Legislators will on Thursday, April 26th and Friday April 27th debate the Territory’s 2018 budget during a House of Assembly sitting.
This comes after members concluded discussions at the Standing Finance Committee (SFC).
On March 19, Premier and Minister of Finance, Hon. Dr. D. Orlando Smith presented a $299,525,366 budget, which represents $23M less when compared to last year’s budget.
Presenting the budget, which forecasts a major decline in revenue this year, due to the August/September natural disasters, Premier Smith said that he understands the people are still hurting, six months later.
However, he said that the people of the BVI can expect to see a much needed growth in the economy by 6.4% next year.
But Members of the Opposition saw the budget as unrealistic. Hon. Julian Fraser, Third District Representative said that the revenue projection of $299M is not realistic, based on the economic climate in the Territory.
Hon. Fraser, who described the budget as artificial, said that the BVI’s revenue base has been eroded significantly due to the August/September natural disasters.
-----
Copyright 2023 by Virgin Islands Platinum News. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
