Hon. Victor Banks
Normally, the Government of Anguilla presents its budget for the ensuing year in December of the outgoing year, except when there are delays for one reason or another.
It was expected that the 2019 estimates of recurrent expenditure and revenue would have been presented by the middle of February, but there has been another delay. Budget Day is now in mid-March, according to Chief Minister and Minister of Finance, Mr. Victor Banks.
“We cannot schedule a time for the presentation of the budget but the work is basically done,” Mr. Banks explained. “We are still making some adjustments, but it is larger than last year in terms of expenditure and revenue. One of the issues that impacted us is the fact that we want to make sure that we get certain things agreed by the British Government before we go to the House of Assembly and find out exactly what scope we will be providing for in terms of a deficit.”
He indicated that another reason for the delay of the budget related to overseas travel arrangements for Ministers and the Leader of the Opposition, Ms. Palmovan Webster. The Opposition Leader will be part of an observer team for the upcoming general election in the British Virgin Islands. The Chief Minister will be at the EU/OCT meeting in Tahita, followed by a period of leave from March 6-13.
Meanwhile, the Executive Council’s Minutes of January 31 stated that “with regard to the 2019 budget, Council approved the revised figures for the budget as follows”:
EX MIN 19/70 2019 CAPITAL BUDGET
Further to Ex Min 19/61 of 31 January with regard to the 2019 budget, Council approved the revised figures for the 2019 Budget as follows:
(a) Recurrent Revenue EC$208,361,315
(b) Recurrent Expenditure EC$213,480,00
(c) Recurrent Deficit EC$5,118,685
(d) Capital Revenue EC$37,282,651
(e) Capital Expenditure EC$16,800,000
(f) Capital Surplus EC$20,482,651
(g) Overall Surplus
(before amortization) EC$15,363,966
(h) Debt Amortization EC$28,505,885
(i) Overall Deficit
(after amortization) EC$13,141,919
(j) Financing EC$ 39,290,000
To include:
CDB (PBL) EC$15,000,000
CDB (ACC) EC$7,800,000
Sinking Fund EC$16,490,000
