On Monday afternoon, Camilo Gonsalves, the minister of finance for St. Vincent, will deliver the budget for the 2023 fiscal year (January 9, 2023).
The Minister is anticipated to talk for almost four hours, and the Opposition Leader Dr. Godwin Friday may respond today.
The estimated income and expenditure for the 2023 fiscal year was authorized by the St. Vincent parliament in December. This represents an 8.8% increase over the approved budget for 2022.
In response to the projections in December, the opposition claimed that Other Receipts, which made up 30% of the capital budget, had inflated it.
The 2023 budget is divided into recurring expenditures of EC$974,323,500 (including amortization and sinking fund contributions) and capital expenditures totaling EC$471,563,113.
Current revenue of EC$761,431,200 and capital receipts of EC$684,455,414 are anticipated to provide the funding.
The expected 2023 current expenditure, exclusive of amortization and sinking fund payments, is EC$771,708,133, whereas the estimated 2023 current revenue is EC$761,431,200, resulting in an EC$10.3 million shortfall.
