Premier and Minister of Finance Dr. the Honourable Natalio D. Wheatley (R7) presented the largest budget in the history of the Virgin Islands (VI), totaling five hundred and fifty million, five hundred and ninety-one thousand dollars ($550,591,000.00) for 2026. Photo:Facebook

The Ministry of Education, Youth Affairs and Sports will receive $76.2 million as part of the 2026 National Budget. Photo: Government of the Virgin Islands

The Ministry of Health and Social Development will receive $87.6 million as part of the 2026 National Budget. Photo: Facebook

The budget themed, 'Pillars of Progress – Building a Sustainable Nation', was presented during the Twelfth Sitting of the Second Session of the Fifth House of Assembly (HoA) on Thursday, November 6, 2025.

It represents an increase of $61,891,129.00 compared to the $488,699,871.00 budget for 2025, which was passed in the HoA on Monday, November 11, 2024.

Premier Wheatley said the government anticipates fulfilling its commitments to the public with the proposed budget.

"This is the biggest budget in the history of these Virgin Islands. This is comprised of projected revenue, collections of four hundred and forty-six million, sixteen thousand, four hundred [dollars]," he said.

Recurrent expenditure totals $442,262,500.00  

Of the total budget, $442,262,500.00 will go towards recurrent expenditure.

"Supplemented by existing loans totalling $54,897,0800.00 and contributions from existing fund balances amounting to $49,675,851.00. In summary, the budget supports an estimated recurrent expenditure of $442 262,500.00."

Dr Wheatley added that the government will take bold steps to refinance two loans through balloon payments with a total of $7,000,900.

"This move is expected to improve our debt servicing, as it frees up immediate cash flow for other political investments and budgets. Our budget requires a careful balance to ensure our government's priorities are properly resourced, well complying with the fiscal requirements under the public finance management, and other legislation and policies and allegations under protocols for effective financial management.’’

Capital Expenditure & projected revenue

Additional allocations include debt servicing, with principal repayments of $20,811,000.00, and capital expenditure totalling $79,969,600.00.

"The projected expenditure program will be financed by $46,997,800.00, including existing CIBC and CDB RRL loans, $12,298,500.00 from the consolidated fund, $12,688,300.00 from the development fund, and $1,100,000.00 from the transportation network improvement fund," the Premier explained.

Committed to funding major projects

He expressed his commitment to funding ministry projects, although the current finances do not allow for the funding of all projects and programs.

"We remain steadfast in fulfilling our mandates in the best interest of the Virgin Islands. Ministries and other agencies will receive allocations in the 2026 budget to deliver their services to the public in the following amounts," he said. 

Ministries allocations 

"Constitutionally established departments will receive a total of $20.4 million," Premier Wheatley revealed,

The breakdown is as follows:

• The Governor's Group (including the Deputy Governor)- $60.7 million
• Premier's Office- $21.9 million
• Ministry of Tourism, Culture and Sustainable Development- $19 million
• Ministry of Financial Services, Economic Development, and Digital Transformation- $23.2 million.
• Ministry of Finance- $38 million
• Ministry of Environment, Natural Resources, and Climate Change- $80 million
• Ministry of Education, Youth Affairs and Sports- $76.2 million
• Ministry of Health and Social Development- $87.6 million