Dominica to focus people-centred approach, socio-economic realities in 2024/2025 budget  

Roseau, Dominica: The 2024- 2025 National Budget Address will be presented in the Parliament of Dominica on Friday next week, focusing on the people-centred approach. The budget will be presented by the Minister of Finance- Dr Irving McIntyre.  

The budget is expected to be a people-centred as it focuses on the development of citizens and the country. On this approach, Prime Minister Dr Roosevelt Skerrit spoke during his press conference on Monday and said that they will seek to present a fiscal package that responds to the social and economic realities of the citizens.  

Through the budget, the policies are expected to be designed to make a positive impact on the lives and livelihoods of the people, taking into consideration the current Global realities. “The fact is the world over countries are grappling with the economic fallout of geopolitical conflicts, the disease and disaster which have resulted in inflation, loss of income and an increase in inequality, ”said the prime minister.  

He noted that the government continues to make that required investment despite the global economic shocks that impact Dominica.  

The islands are not immune to these economic shocks but have persisted in investing in social safety nets and the productive sectors to counteract adverse impacts and to keep the people in jobs, keep the young people in universities and provide households and small business to ensure economic stability, as per PM Dr Skerrit.  

The 2024-2025 National budget will focus on the building of past developments and investments made over the years. PM Roosevelt Skerrit cited, ”This year’s budget will focus on our efforts to consolidate the gains, we have made in recent years and outline priorities and measures to further stimulate economic activity, create employment, and improve long-term efficiently in the administration of our country’s affairs.”  

A new outline of the nursing system will also be a feature in this year’s budget address, aiming to create several new positions which will allow for the upward mobility of the nurses. The government also took recommendations from nurses and participated in the recent consultations.   

Prime Minister Skerrit emphasized that the budget has something to benefit every citizen and he is confident that the Dominican people will be pleased with the budget presentation. 

CBI Programme and New Price adjustments

Prime Minister Dr Roosevelt Skerrit also shed light on the problems faced by Dominica in moving the funds from the citizenship by investment programme through international banks to source.  

He said that there are some banks in within the Caribbean community space with no corresponding banking services and it’s very difficult for developing countries like Dominica and similarity to with regards to climate change and the issue is all over the world.  

“If you do have correspondent banks, you are unable to trade with the rest of the world, you are unable to trade if US currency, unable to trade if Euros, unable to trade if pounds, unable to trade any currency and therefore it is important that all of us should speak on the matter, ”said the prime minister.  

PM Skerrit asserted that if there are no talks on the matters of banking then the Caribbean would end up losing correspondent banking services.  

Further, he talked about the recently increased minimum thresholds to US$200,000 to qualify for the citizenship of Dominica. He described that anybody who engage themselves in acquiring Dominica citizenship, then they need to advise themselves and be advised of the legal prices in terms of the SRO which is on the government website.  

“I have made it very clear to everybody to the world on every occasion that anybody who presented with evidence to show that you acquire citizenship for less than the legal fees your citizenship will be revoked simple as that.”  

Talking about the due diligence procedures, he added that the due diligence firms will ask the question about how much the applicant paid for the citizenship of Dominica and anybody who acquires citizenship less than what is required to be paid, then it will be revoked.