The 2023 Budget was passed at the Ninth Sitting of the Fourth Session of the Fourth House of Assembly to the tune of $412,971,110. This will comprise of $340,872,400 for recurrent expenditure; $49,428,600 for capital expenditure; $7,148,810 in contribution to various statutory funds; and $15,521,300 towards repayment of the principal on our debt.

Thank You Madam Speaker.

Deputy Governor, Mr. David Archer, Mrs. Archer, Financial Secretary, Specially Invited Guests, members of the Virgin Islands community viewing online and listening on the radio, members of the Media; a pleasant good day to everyone.

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.

Premier and Minister of Finance, Honourable Andrew A. Fahie said that his Government recognises and commends the dedication of the Territory’s teachers, who have performed yeoman service in the less than satisfactory conditions.

The House of Assembly of the Virgin Islands is ensuring a smooth process for the passing of the Territory’s 2022 budget.

Premier and Minister of Finance, Honourable Andrew A. Fahie has announced that the Government of the Virgin Islands remains committed to strengthening the Territory’s energy supply and reducing its carbon footprint.

Premier and Minister of Finance, Honourable Andrew A. Fahie has stated that two-hundred thousand dollars ($200,000) is allocated for Tourism Infrastructure Development as he emphasised the Government’s commitment to developing the Territory’s tourism product in the 2022 Budget Address. 

The Virgin Islands has experienced a noticeable increase in entrepreneurial activity during the past several months of the COVID-19 Global Pandemic, and can look forward to this trend continuing in 2022.

Premier and Minister of Finance, Honourable Andrew A. Fahie said that 32.73 percent of the development budget has been allocated to the Ministry of Transportation, Works and Utilities as Government focusses on major construction projects to stimulate economic activity and create jobs during this COVID-19 period.

Premier and Minister of Finance, Honourable Andrew A. Fahie has delivered the Territory’s 2022 Budget Address 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”.