Grenada gets ‘holding budget’ next month

ST GEORGE’S—The newly elected Grenada government of Prime Minister Dr Keith Mitchell will present a “holding budget” to Parliament next month. Economic Development Minister Oliver Joseph said the Estimates of Revenues and Expenditure for 2013 are expected to be presented in mid-April and that public consultations will be held with sectoral groups as part of the preparation for the fiscal package.

He described the presentation of the estimates “as a holding budget to cover until December” given the fact that four months in the year have already passed. Under the Grenada Constitution a new budget must be presented before April 30 each year. Speaking to reporters following the weekly Cabinet meeting, Joseph said the new government which came to power on February 19 has already started work on developing a new economy for the island.

Joseph said the government is reviewing a number of options to tackle the country’s financial problems. He said the Keith Mitchell administration had already started making appointments to state boards.

CMC