Dominica to present a whopping $1.4 Billion budget  

Dominica: The 2024/2025 budget for Dominica is all set to be announced today with the proposed expenditures estimated to be $1.4 Billion. The minister of finance, economic development. Climate resilience and social security, Irving Mclntyre will present the budget to the nation.

The budget will be announced at the first meeting of second session of the eleventh parliament and will start at 10:00 am and will be broadcasted live through the Government Information Service (GIS) and Dominica Broadcasting Service (DBS). The total expenditures together estimate to be EC$1,486,951,793 for the financial year ending 30^th June 2025.

The Parliamentary meeting is scheduled to be addressed by President, Sylvanie Burton D.A.H who will inaugurate the meeting with her speech. The meeting will discuss an amendment to the goods related tax schedule. This is to be noted that the parliament ahead will also seek for a overdraft from financial institutions and some other fundings from the International Development Association (IDA). These fundings will be used for funding of the Emergency Agricultural Livelihoods and Climate Resilience Project.

The budget is planned to include initiatives that will have a positive influence on people’s lives and livelihoods while also taking into account current global realities.

The prime minister Roosevelt Skerrit last week in his national Budget address meet and stated that “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,”

The prime minister in his address also stated that this year’s budget will also focus on actions to promote economic activities and create more employment facilities. The PM also stated that the budget will make sure of managing countries’ affairs in a long run.

Notably, the prime minster during the meet also stated to distribute EC$1 million to the hurricane affected countries as he mentioned that this is the duty and a moral and ethical obligation of the country to stand in solidarity with those affected.