Dominica’s 2024/2025 budget is due to be presented today, with anticipated expenditure estimated to total $1.4 billion. The Minister of Finance and Economic Development, Climate Resilience, and Social Security, Irving Mclntyre, will present the nation’s budget.
The budget will be announced at the first meeting of the second session of the eleventh parliament, which will begin at 10:00 a.m. and will be broadcast live via the Government Information Service (GIS) and Dominica Broadcasting Service (DBS). The overall expenditures are estimated to be EC$1,486,951,793 for the fiscal year ending June 30, 2025.
President Sylvanie Burton D.A.H. will open the Parliamentary meeting with a inaugural speech. The meeting will cover a change to the goods-related tax schedule. It should be noted that the parliament will also seek an overdraft from financial institutions, as well as additional money from the International Development Association.
These funds will be utilised to support the Emergency Agricultural Livelihoods and Climate Resilience Project in the country. The budget is intended to incorporate programs that will have a positive impact on people’s lives and livelihoods while also reflecting contemporary global realities.
In his national budget address last week, Prime Minister Roosevelt Skerrit stated, “The fact is the world over countries are grappling with the economic fallout of geopolitical conflicts, the disease and disaster which have resulted in inflation, loss of income and an increase in inequality,”
In his statement, the prime minister also emphasised that this year’s budget will include measures to boost economic activity and create more job opportunities. The prime minister also emphasised that the budget will ensure long-term management of the country’s affairs.
Notably, at the meeting, the Prime Minister noted that distributing EC$1 million to hurricane-stricken countries is the country’s duty and moral and ethical commitment to stand in solidarity with those impacted.
The Prime Minister has stated that he is assured that all the citizens of Dominica will be pleased with the budget presentation and its contents.