British Virgin Islands, (BVI) – The 2023 budget passed at the Ninth Sitting of the Fourth Session of the Fourth House of Assembly to the tune of $412,971,110; made up of $340,872,400 for recurrent expenditure; $49,428,600 for capital expenditure; $7,148,810 in contribution to various statutory funds; and $15,521,300 towards repayment of the principal on debt.
Premier and minister of finance, Dr Natalio D. Wheatley wrapped up the debate following contributions made by members of the House on the 20 and 21 of December 2022.
With the passage of the 2023 budget estimates, the government of the Virgin Islands is now positioned to move forward with its public programmes and key infrastructure projects.
Premier Wheatley emphasised that his government is taking steps to ensure that the BVI meets its requirements outlined in his budget speech under the theme: “Resilience, Revenue, Reform, and Recovery: The Virgin Islands in Transition” by the end of the 2023 financial year.
He affirmed that the budget represents a simple but largely comprehensive matrix of what we have accomplished this year and what the priorities and parameters of our mission in the upcoming year and beyond should be, given the international geopolitical and economic climate, and the situation closer to home.
The Bill is now in its final stage before it can be fully utilised. It has been presented to His Excellency, Governor John R. Rankin to have assented.