Financially there’s ‘a lot to thank God for’- Premier Wheatley
This was revealed during The Virgin Islands Voice by Premier and Minister of Finance Dr the Hon Natalio D. Wheatley (R7) on Wednesday, March 18, 2026.
“We would have collected the most revenue in our history over the past five years or so, and that means we are doing well financially.”
Premier Wheatley added that the VI has been doing a lot better in terms of getting money expended.
Main revenue earners continue to perform well
“[Last year] we projected what would have been our biggest revenue numbers ever, and we came in over $15 million over that. That means that our main revenue earners, financial services [and] tourism, they continue to perform well for us.”
According to the PowerPoint presentation shared during the programme, the recurrent revenue estimated for 2025 was $432.18 million.
The Financial Secretary, Jeremiah G.A. Frett, who was also a guest, said the key players continuing to contribute to the VI’s revenue are the Financial Services Sector, Inland Revenue, Customs Import Duties and what is collected under the Ministry of Finance.
The projected revenue to be collected for 2026 is $444.83 million.
A lot to thank God for financially
Meanwhile, Premier Wheatley said the 2025 S&P Global Rating and the Caribbean Information and Credit Rating Services Limited (CariCRIS) rating also show that the VI is doing well financially.
“We had a sovereign rating exercise, which gave us from S&P Global Ratings an investment grade rating of BBB with a stable outlook. That’s the first sovereign rating we’ve ever had, and of course, it’s investment grade, it’s one of the highest in the Caribbean.”
According to S&P, this rating signifies investment-grade status, driven by strong net asset positions, prudent fiscal management, and expected economic resilience, despite high fiscal debt burdens (rated 1/weakest) and vulnerabilities in the tourism/financial services sectors.
Premier Wheatley said the CariCRIS rating of AA- is “one of the strongest in the Caribbean”.
This upgraded the VI to a high creditworthiness rating, which means it has a high capacity to meet its financial obligations compared to regional peers.
“So it underscores the fact that we are financially responsible, fiscally prudent, and we’ve been able to deliver public services to the people of the Virgin Islands over a number of years.”
Dr Wheatley added that despite what naysayers may say, the numbers speak for themselves.
“When you look at the numbers, I would say that from a financial standpoint, we have a lot to give God thanks for.”
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