Prime Minister Dr. Ralph Gonsalves Budget Closing

The 2015 National Budget wrapped up yesterday, with Prime Minister Dr. Ralph Gonsalves expressing optimism that economic activity will improve this year.

This performance he said will be driven mainly by improved activity in the Construction, Agriculture and the Manufacturing Sectors.

The Prime Minister pointed out that the Government will not be supportive of austerity measures to deal with this country’s resources.

The main Opposition New Democratic Party is claiming that the Government is introducing austerity measures.

But, Prime Minister Gonsalves said that austerity is a dangerous idea for St. Vincent and the Grenadines.
The Prime Minister said total expenditure for 2015 is estimated at 971.37 million dollars.

It comprises of current expenditure of 560.8 million, capital expenditure of 296.35 million, amortization of 101.49 million and contributions to sinking fund of 12.7 million dollars.