Got TIPS or BREAKING NEWS? Please call 1-284-442-8000 direct/can also WhatsApp same number or Email ALL news to:newsvino@outlook.com;                               ads call 1-284-440-6666

2020 Budget debated & passed in HoA; Presented to Governor

- $414M Budget was passed in HoA on Friday, December 13, 2019
The $414,008,611.00 National Budget for 2020 was debated and passed at the Second Sitting of the Second Session of the Fourth House of Assembly on Friday, December 13, 2019. Photo: VINO/File
Premier and Minister of Finance, Honourable Andrew A. Fahie (R1) wrapped up the debate following contributions made by Members of the House on Friday, December 13, 2019. Photo: VINO/File
Premier and Minister of Finance, Honourable Andrew A. Fahie (R1) wrapped up the debate following contributions made by Members of the House on Friday, December 13, 2019. Photo: VINO/File
The 2020 National Budget has since been sent to Governor Augustus J. U. Jaspert for assent. Photo: GIS/File
The 2020 National Budget has since been sent to Governor Augustus J. U. Jaspert for assent. Photo: GIS/File
ROAD TOWN, Tortola, VI- The $414,008,611.00 National Budget for 2020 presented by the Virgin Islands Party (VIP) Government was passed at the Second Sitting of the Second Session of the Fourth House of Assembly on Friday, December 13, 2019 and has since been sent to Governor Augustus J. U. Jaspert for assent.

Of the total $414M Budget this year $327,766,149 will be allotted to recurrent expenditure; $65,479,200 on capital expenditures; $6,217,762 in fund contributions; and $14,545,500 towards principal repayments on debts.

According to Premier and Minister of Finance, Honourable Andrew A. Fahie (R1) at the Budget Presentation on November 19, 2019, it is estimated that development expenditure in 2020 will be $65,479,200. This amount comprises $7,987,200 in capital acquisitions and $57,492,000 in infrastructure development across the Territory.

Government is anticipating revenues of $362.9 million in 2020, with about $201.4 million from financial services.

VI now positioned to move forward

Premier Fahie wrapped up the debate following contributions made by Members of the House on Friday, December 13, 2019.

Premier Fahie thanked all members for their contribution on the merits and principles of the bill titled, Appropriation Act, 2020. Contributions to the debate were made by all Members of the House of Assembly, according to a Government press release on December 18, 2019.

It said, with the passage of the 2020 Budget estimates, the Government of the Virgin Islands is now positioned to move forward with its public programmes and key infrastructure projects.

According to the press release, Premier Fahie emphasised that his Government is taking steps to ensure that the Virgin Islands meets its requirements outlined in his budget speech under the theme “Transformation for Resilience and Sustainability: SMART Strategies, Empowered People, and Green Development” by the end of the 2020 financial year.

Hon Fahie affirmed that the Government remains committed to ensuring the most efficient and effective use of Government resources while on its path towards the Virgin Islands going from good to great.

7 Responses to “2020 Budget debated & passed in HoA; Presented to Governor”

  • one eye (18/12/2019, 18:58) Like (11) Dislike (3) Reply
    Clap clap vip is our best hope
  • usa (18/12/2019, 21:58) Like (3) Dislike (9) Reply
    Donald Trump just got Impeached.
  • asking for a friend (19/12/2019, 01:34) Like (10) Dislike (0) Reply
    When last a budget pass so soon?
    • @ asking for a friend (19/12/2019, 07:01) Like (15) Dislike (4) Reply
      Not in the last eight years, VIP knows how to run a country the people have lots of confidence in this administration
  • Genesis 41 (19/12/2019, 04:05) Like (3) Dislike (0) Reply
    Seven years of plenty seven years of famine. Take note.
  • facts (19/12/2019, 08:11) Like (3) Dislike (6) Reply
    We must commend the VIP Government. I am not a 100% fan of them but one must give credit where credit is due.
  • lol (19/12/2019, 14:39) Like (3) Dislike (0) Reply
    That only was rushed to feed the VIP sharks


Create a comment


Create a comment

Disclaimer: Virgin Islands News Online (VINO) welcomes your thoughts, feedback, views, bloggs and opinions. However, by posting a blogg you are agreeing to post comments or bloggs that are relevant to the topic, and that are not defamatory, liable, obscene, racist, abusive, sexist, anti-Semitic, threatening, hateful or an invasion of privacy. Violators may be excluded permanently from making contributions. Please view our declaimer above this article. We thank you in advance for complying with VINO's policy.

Follow Us On

Disclaimer: All comments posted on Virgin Islands News Online (VINO) are the sole views and opinions of the commentators and or bloggers and do not in anyway represent the views and opinions of the Board of Directors, Management and Staff of Virgin Islands News Online and its parent company.