BRADES, Montserrat – Montserrat’s premier and minister of finance and economic management, Reuben T. Meade presented a budget of XCD 345.95 M for the 2026/27 financial year. The budget, themed “Economic Restoration and Transformation with Social Empowerment,” was presented against the backdrop of geopolitical tensions, volatile energy markets, and evolving trade dynamics.
“Conflicts in key regions, disruptions to major shipping routes, and the persistence of elevated tariffs have created ripple effects that reach small, open economies like Montserrat, influencing the cost of imports, fuel prices, and the stability of tourism and remittance flows,” expressed premier Meade.
Despite anticipated challenges, the pemier and minister of finance announced that Montserrat’s economy is expected to grow this fiscal year. Meade explained, “The economy is projected to grow by 3 percent in 2026, underpinned by strong performance across public services, real estate, construction, and financial services.”
Premier Meade said:
“This budget allows us to continue working towards that vision of a restored rebuilt Montserrat that in years ahead will not survive only because of budgetary support. The budget demonstrates our enduring belief in ourselves. All the people of one Montserrat. We believe when we work together and work well, we can deliver the kind of results I have projected under our list of intentions.”
The budget estimate of XCD 345.95 million covers recurrent and capital expenditure. Capital expenditure totalling XCD 162.2 million for this fiscal year will be allocated under the following classifications:
- Economic Infrastructure development of EC$55.24 million, 33.97%;
- Social Infrastructure development of EC$97.69 million, 60.07%;
- Public Administration of $0.21 million 0.13%;
- Agriculture of EC$0.96 million, 0.59%;
- Statistical Research, Miscellaneous Projects and Other Programmes of EC$8.52 million 5.24%.
The Capital Investment Programme for 2026/27 includes the continuation of the Capital Investment Programme for Resilient Economic Growth (CIPREG), other Foreign, Commonwealth and Development Office (FCDO) funded projects, legacy European Union (EU) European Development Fund (EDF) projects, Caribbean Development Bank (CDB), Eastern Caribbean Central Bank (ECCB) among other programmes as follows:
- The UK Government/FCDO , with $101.86M or 62.64 per cent of the budget;
- EU with $39.57m or 24.51 percent;
- CDB with $20.02m or 12.31 percent;
- Other sources (to include Darwin, OTEP, UNICEF) $0.88m or 0.54 percent.
The recurrent budget is used to facilitate salaries, wages, and operational expenses of the ministries and departments across government.
- Full details on the 2026-27 budget presentation can be accessed here.