Monday January 20th 2014 is Budget Day in St. Vincent and the Grenadines

The 2014 National Budget will be presented by Prime Minister and Minister of Finance Dr. Ralph Gonsalves in Parliament later today.

Prior to the Budget presentation, Governor General Sir Frederick Ballantyne will deliver the Throne Speech and declare the Fourth Session of the Ninth Parliament open.

The session is scheduled to begin at four this afternoon at the Assembly Chamber in Kingstown.

Last December, the Prime Minister presented Estimates of Revenue and Expenditure for the year 2014, in Parliament amounting to 911-million, 571-thousand and 46-dollars, representing a 14.1-percent increase, over the approved budget for 2013.

The Prime Minister said the increase in the 2014 budget is due to a substantial increase on the capital side, amounting to 45.5-percent, largely as a result of expenditure on the International Airport project, and a 5.2-percent increase in recurrent spending.

The 2014 Budget comprises Recurrent Expenditure of 654-million, 441-thousand, 101-dollars and capital expenditure of 257-million, 129-thousand, 945-dollars.

The Budget is financed by Current Revenue of 520-million,502-thousand, 8-hundred dollars, and capital receipts totaling 391-million, 68-thousasand, 246-dollars