In a break with tradition, the government of St Vincent and The Grenadines, in the absence of a budget for 2021, received approval from Parliament to borrow EC$125 million for capital expenditure for next year.
Public Sector Investment Loan No. 2 Act 2020, presented by Minister of Finance, Camillo Gonsalves, authorises the government to raise funds to assist the government in financing the public sector investment programme (PSIP).
However, the Minister was quick to assure Parliament that “in fact, our revenues increased slightly over our 2019 numbers” noting that the country’s economic decline was minimised. (IWNSVG)
Extract from CARICOM BUSINESS Vol 4 No 1
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