The preliminary draft of the Government’s Budget to finance the public services for the year ending December 2003, has been completed, discussed and made ready for approval by Executive Council. It indicates a figure of EC$88 million for recurrent expenditure and revenue.

The local capital budget for project financing is estimated to be in the area of $17 million of which the Government hopes to provide between 6 and 8 million dollars in counter-part funding. This has nothing to do with the Airport project and the two EDF and CDB road projects involving external funding.
The Minister of Finance, the Hon. Victor Banks, will deliver the Budget Address in the Anguilla House of Assembly on Tuesday December 10, when it convenes at 3.00 p.m. The Assembly will commence the debate on the Budget on Monday December 16.

The Ministry of Finance has indicated that it was a difficult task creating a balanced Budget of estimates of expenditure and revenue. The Budget calls for more strict expenditure controls with greater emphasis on revenue collection. The introduction of the Department of Inland Revenue with specific responsibility in this area, will take place next year.

“There will be greater emphasis on ensuring cost recovery for critical services provided by Government,” Mr. Banks commented.

Minister of Finance Hon. Victor Banks

| Printer-friendly page | Send this article to a friend |

World News