By Office of the House of Assembly
British Virgin Islands, (BVI) – The 2022 budget was passed at the Thirteenth Sitting of the Third Session of the Fourth House of Assembly in the amount of $397,174,331.
This will comprise of $336,964,300 for recurrent expenditure; $39,402,900 for capital expenditure; $5,847,631 in contribution to various statutory funds; and $14,959,500 towards repayment of the principal on debt.
Premier and minister of finance, Andrew A. Fahie wrapped up the debate following contributions made by members of the House on December 14 and 15.
Premier Fahie thanked all 12 members for their contributions to the debate on the merits and principles of the bill titled, Appropriation Act, 2022.
Premier Fahie emphasised that his government is taking steps to ensure that the BVI meets its requirements outlined in his budget speech under the theme “Strategically positioning new industries with sustainability and innovation: Continuing to improve the standard of living with focus on education, small business, healthcare and technology” by the end of the 2022 financial year.
He affirmed that the government remains committed to ensuring efficient use of the fiscal resources, on its path towards a better and brighter Virgin Islands.
With the passage of the 2022 budget estimates, the government of the Virgin Islands is now positioned to move forward with its public programmes and key infrastructure projects.
The Bill is now in its final stage before it can be fully utilised. It has been presented to His Excellency, Governor John J. Rankin, CMG to be assented.