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$402M 2021 Budget announced for VI

- COVID-19 has not crippled us, says Premier Fahie
Under the theme, ‘INNOVATION: Building a stable, diverse, competitive economy with strong industries and partnerships for regional and international trade, by building and harnessing the creative capacity of our human capital’, Premier and Minister of Finance, Honourable Andrew A. Fahie (R1) in a 2-hour ‘budget statement’ announced a $402M National Budget for the Virgin Islands for 2021 today, November 12, 2020. Photo: Facebook
The 2021 Budget Address was delivered during the Second Sitting of the First Session of the Fourth House of Assembly (HoA) held at the Save the Seed Energy Centre in Duff’s Bottom, Tortola. Photo: Facebook
The 2021 Budget Address was delivered during the Second Sitting of the First Session of the Fourth House of Assembly (HoA) held at the Save the Seed Energy Centre in Duff’s Bottom, Tortola. Photo: Facebook
According to Premier and Minister of Finance, Hon Andrew A. Fahie (R1), the ‘Budget Statement’ is testimony of Government’s confidence in being committed to the people in spite of the covid-19 challenges, adding that ‘COVID-19 has not crippled us.’ Photo: VINO/File
According to Premier and Minister of Finance, Hon Andrew A. Fahie (R1), the ‘Budget Statement’ is testimony of Government’s confidence in being committed to the people in spite of the covid-19 challenges, adding that ‘COVID-19 has not crippled us.’ Photo: VINO/File
DUFF’S BOTTOM, Tortola, VI- Under the theme, ‘INNOVATION: Building a stable, diverse, competitive economy with strong industries and partnerships for regional and international trade, by building and harnessing the creative capacity of our human capital’, Premier and Minister of Finance, Honourable Andrew A. Fahie (R1) in a 2-hour ‘budget statement’ announced a $402,123,046 2021 National Budget for the Virgin Islands, today Thursday, November 12, 2020

‘Inordinate task’

It is the 3rd budget in 20 months for the Virgin Islands Party (VIP) Government, which Premier Fahie said was “an inordinate task.”

The budget was delivered during the Second Sitting of the First Session of the Fourth House of Assembly (HoA) held at the Save the Seed Energy Centre in Duff’s Bottom, Tortola.

The figures

According to the Leader of Government Business, the technical experts in the Ministry of Finance are projecting estimated revenues for Government in the sum of $332.3M.

He said $309.9M will be coming from taxes and $20.4M from other revenue sources.

Recurrent expenditure is estimated at $325.2M with employee compensation accounting for some $122.6M, $79.4M allocated for goods and services, $77.4M for various grants, and $18.6M for social benefits.

Other expenditures include $9.6M in grants to the BVI Tourist Board, $9.02M to the H. Lavity Stoutt Community College (HLSCC), $3M for foreign scholarships and $62,000 for domestic scholarships and $1M in grant funding to the BVI Health Services Authority (BVIHSA).

Premier Fahie said a recurrent surplus of $5.2M has been projected.

Capital expenditure of $62.53M, Premier Fahie said, is being targeted.

He said this will be funded by $21.1M in loan funds from Caribbean Development Bank 9CDB) and Reconstruction and Rehabilitation Loan (RRL) and $35.4M from the Consolidated Fund, as well as insurance proceeds among other sources of funding.

A further $12.5M has been allocated for debt servicing.

According to the Premier, an overall deficit of $69.8M is being projected largely from capital projects but this will be funded through a $34.7M drawing from the Consolidated Fund capital expenses.

‘COVID-19 has not crippled us’

The Premier also used the opportunity to speak about the long list of achievements of Government and some of the many plans in place for additional revenue.

He said the “Budget Statement” is a testimony of Government’s confidence in being committed to the people, in spite of the novel coronavirus challenges, adding that “COVID-19 has not crippled us.”

More details to follow.

21 Responses to “$402M 2021 Budget announced for VI”

  • upset (12/11/2020, 16:26) Like (18) Dislike (0) Reply
    It it upsetting to see that out of the entire budget only 17.5% is spent on infrastructure, roads, schools and other capital projects and 82.5% (the rest) is spent on salaries, office space, cars and other ongoing expenses to run the very expensive government...
    • Perfect location (12/11/2020, 18:48) Like (26) Dislike (8) Reply
      Can’t cripple we this country is built on drug money. Like it or not that’s how this country is different from the other island and Caribbean islands.
      • nope (15/11/2020, 10:09) Like (0) Dislike (0) Reply
        Do you know about St.Marteen, Trinidad? That's where the drugs pass through.
  • Nice (12/11/2020, 16:30) Like (11) Dislike (4) Reply
    For somewhere that was on lockdown for most of the year that’s great congrats Vip government
    • Bad lockdowns (12/11/2020, 18:58) Like (8) Dislike (5) Reply
      Internal lock down is the biggest mistake Caribbean countries made ,, Once the borders were closed to incoming traffic,,. There were no need to lock the country down,,, every time they get a case they panic and take the easy way out,,,,,, Lock down,,,,, Now they recognized locking down is not the solution,,,, That unnecessary lock down sink the country deeper in an economic pit hole,,,
      • west (13/11/2020, 06:46) Like (4) Dislike (0) Reply
        Get ready for more lock down and a different kind of social distancing. You can sleep with your partner but both of you cannot play tennis. Follow the UK and Australia , its coming. What ever the WHO tells the good boy plaque holder, the Premier must comply. And don't forget he saying the vaccine would not be mandatory, mask are not also but NO MASK NO SERVICE IS EVERT WHERE! NO VACCINE NO WORK, MEDICAL HELP, TRAVEL.... WE ARE TRAPPED AND HOARDED LIKE SHEEP TO THE SLAUGHTERHOUSE
  • Well Well (12/11/2020, 16:30) Like (6) Dislike (15) Reply
    If it wasn’t spend feeding them island people it would’ve been more
    • Youth (12/11/2020, 18:26) Like (11) Dislike (3) Reply
      I guess you mean BVIslanders as well? Because last I check the BVI was a chain of islands and by definition that makes us island people as well, correct?
      • BuzzBvi (12/11/2020, 19:42) Like (2) Dislike (7) Reply
        No in BVi people are indeeegeenous not liek you i land folk from elsewhere. Afreeka and wot not. VI grown from the grownd up! The up i land. no down i land ere. We no iland we part t land mass of the UK. Not an i land thing tall.
        • Slim Jim (13/11/2020, 11:27) Like (1) Dislike (0) Reply
          Dear BuzzBVI (not your real name).... can you trace your heritage in this country back to the original peoples (Amerindians?). If not... you are not actually indigenous.

          And I am saying this as a Virgin Islander by birth and heritage. I can trace my roots back to my great grandmother but not beyond... the odds are that whether you are Smith, Thomas, Hodge, Lettsome, Penn, Maduro, Rabsatt, Skelton, George, Stevens, Callwood, Fahie, Flemming or any other "local" surname... your people came from somewhere else and settled here a few generations ago. You are a transplanted people just like my family. Lets stop the demonizing of people from "other" places and learn to respect and value the shared heritage we all have as sons and daughters of the African slave trade. I am a child of the Caribbean Black experience and value the rich tapestry and cultural richness of the region. While I agree that certain benefits and privileges should and must be protected for the citizens (born and naturalised) of a country, xenophobia, prejudice and racism are a deadly cancer that will eat us alive.

          Last but not least... we love to proclaim ourselves a Christian nation. I am a Christian but this is not a Christian nation... Christians are individuals who have recognized their needs for a Saviour and have decided to serve the Lord Jesus. And in the Holy Bible, we learn where the Israelites after being delivered from Egyptian bondage were warned not to oppress the stranger among them since they themselves were slaves in a strange land (Exodus 23:9), Jesus himself told us to love our neighbors as ourselves (Matthew 22:36-40), and the Apostle Paul tells us that in Christ them is no Jew or gentile, slave or free, rich or poor... we are all one in Christ (Galatians 3:28). Hatred and strife against other people is not a Christian value.

          If we really want to claim the mantle of Christianity and restore a sense of decency and righteousness to this land, lets stop talking and start living the Word. Then maybe we will truly be able to stem the tide of evil that promotes this culture of hatred, strife, division, fault-finding, drugs, illicit and immoral behavior, murder, corruption and the like (2 Timothy 3:1-7). Let's repent of our wicked and evil thoughts and ways and surrender to the Lord before the fate of Sodom and Gomorrah becomes ours (Luke 17:26-30).
          • OMG (13/11/2020, 16:44) Like (1) Dislike (0) Reply
            BuzzBVI is an idiot pretending to be local. Many of them online! RIP your time with those paragraphs. Jewels in the swine's snout.
    • Hmmmm (12/11/2020, 18:48) Like (0) Dislike (0) Reply
      BVIHA This small amount for this important sector in these virus and medical challenging times,. Or I'm missing something
  • OMG (12/11/2020, 16:32) Like (11) Dislike (2) Reply
    MY HEART BLEEDS FOR THE SOCIAL SECURITY NIPPLES
    • Love for My Country (12/11/2020, 19:49) Like (3) Dislike (0) Reply
      @OMG; I shre your feelings. MO MORE MONEY SHOULD BE TAKEN FROM THE SOCIAL SECURITY. $40 MILLION WAS TAKEN AND FROM ALL ACCOUNTS IT SEEMS TO HAVE GONE INTO THE GOVERNMENT COFFERS TO HELP OFFSET BILLS. THIS HAS NEVER BEFORE BEEN DONE OR HEARD OF. THIS GOVERNMENT SHOULD HAVE SPENT CAREFULLY WHEN IT CAME INTO OFFICE INSTEAD IT SPENT THE TAXPAYERS MONIES CARELESSLY DOING ALL KIND OF FOOLISHNESS, LIKE SECUTIRY ROUND THE CLOCK; USELESS CONTRACTS; VEHICLES FOR EVERY MINISTER AND OTHERS; WASTED MONEY ON THE MARK VANTERPOOL DRAMA. PEOPLE OF THIS TERRITORY MARCH AGAINST FUNDS BEING TAKEN FROM SOCIAL SECURITY BECAUSE THERE WILL BE NO MONEY LEFT TO PAY PENSIONS AND OTHER BENEFITS IF THIS GOVERNMENT CONTINUES TO MILK IT!
  • Clearly (12/11/2020, 21:58) Like (2) Dislike (6) Reply
    Someone has to do something with those other two online news site like bvinews and platinum because they only post the comments against the Government. They never post any positive post in the favor of the VIP Government.
  • lodger (12/11/2020, 22:44) Like (2) Dislike (2) Reply
    I believe he said that the airport would be expanded so that by 2030 14,000 people will work there. That is equivalent to the so called indigenous population! Seems unlikely.
  • Fam (13/11/2020, 03:38) Like (0) Dislike (2) Reply
    Very good budget this vip government going back easy
  • VG (13/11/2020, 05:55) Like (3) Dislike (0) Reply
    We still need to know the truth with this ferry dock location/relocation the cost who it was purchased from etc.If it purchased for 4 mil.I lnow it'll a lot more 4 mills. to get it to it's intended use.This Govt.always talking about transperancy they never came to us. We the people should 've had our input.This Gobernment can't be trusted.I can more about this issue at a later date
  • Hmmm (13/11/2020, 08:10) Like (0) Dislike (0) Reply
    So are we getting any of the 3-4 years of increment promised since election/ first budget. At least one would be nice. I guess we have to wait for when election is near. Politicians and politics, oh the games and tactics. Don't tell me Covid 19 cause you all planted unnecessary trees and extended roads unnecessarily.
  • Hmm (14/11/2020, 08:11) Like (1) Dislike (0) Reply
    Wonder which group of people helping to make up them taxes they expect to collect there. The people locked out or the ones they intend to send out


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