Under the theme, Turning Progress into Prosperity: Building a Sustainable Nation, Premier and Minister of Finance Dr the Honourable Natalio D. Wheatley (R7) presented a record $559.1 million budget for 2027 in the House of Assembly (HoA) today, October 27, 2026. Photo: GIS

Members of Government at the Budget Address today, October 27, 2026. Photo: GIS

Members of the Opposition at the Budget Address today, October 27, 2026. Photo: GIS

$460.4 million has been allocated for recurrent expenditure, $81.1 million for capital expenditure and $9.6 million for principal debt repayments.

Projected revenue was set at $457.8 million. Loan financing to the tune of $47.3 million and $54 million from existing fund balances will make up the financing for the record budget, which is now subject to final approval of the Appropriation Act.

“Madam Speaker, our people have worked hard for the progress we have made. Now they are entitled to ask: what will this Budget mean for the Virgin Islands? My community? My household? The infrastructure that supports my daily living? My economic prospects? Will I share in the prosperity? Will my health be safeguarded? What does this Budget mean for me and my family?

“Those questions give this Budget its purpose. Prosperity means the security to meet today’s needs and the opportunity to build a better tomorrow. In 2027, we will carry forward the work already begun, with our people’s lives as the measure of its success,” Premier Wheatley said during the Budget Address held at Eileene L. Parsons Auditorium at H. Lavity Stoutt Community College in Paraquita Bay.

$96.5M for MCW

The Ministry of Communications and Works will receive the largest share of the budget, $96.5 million, followed by Health and Social Development with $87.1 million and Education, Youth Affairs and Sports with $79.7 million.

Premier Wheatley said the amount allocated to the Ministry of Communications and Works reflects the scale of the road, water, sewerage, and airport programme.

“These investments must improve the journeys people make, the services homes and businesses rely on, and the connections through which opportunity reaches our islands. We must carry them through to working improvements in daily life,” Premier Wheatley said.

More details to follow.