British Virgin Islands

Monday, Sep 20, 2021

Adjusting budget is about being 'cautious' & not broke- Premier Fahie

Adjusting budget is about being 'cautious' & not broke- Premier Fahie

After Premier and Minister of Finance, Hon Andrew A. Fahie (R1) recently disclosed that Government is proposing an adjusted budget for 2021, considering the shortfall in projected national revenues, the Opposition was quick to suggest that the territory is broke.

Premier Fahie has; however, dispelled those rumours being propagated by the Opposition, assuring the Virgin Islands that the rumours are far from the truth.

‘Signs of being cautious’


“But Mr Speaker, to say that all the revenue makers are where we would like them to be, no, but just like your private account, or your private finances, if you see that your income dips a little bit before you go into a deficit you make adjustments. And we have made adjustments just like we did last year. It’s not the first time and just like we had to do in 2017. So let no one fool you that adjusting budgets show signs of being broke,” Hon Fahie stated during the continuation of the 11th Sitting of the 3rd Session of the 4th House of Assembly held virtually on September 9, 2021.

According to Hon Fahie, the Government’s decision to adjust the budget “shows signs of being cautious”, especially since COVID-19 is still present, it is the middle of the hurricane season and the VI is also vulnerable to earthquakes.

“So we have to tread lightly because he who keeps watch, like Honourable Sharie de Castro reminded me some day, has to keep the time.”

Premier Andrew A. Fahie (R1) has assured that adjusting the budget will not prevent the Government from trying to help every district as much as it can with limited resources but high demands.


All districts will still be helped


Hon Fahie also assured that adjusting the budget will not prevent the Government from trying to help every district as much as it can with limited resources but high demands.

Speaking on Friday, September 3, 2021, during a press conference on cruise passengers and the BVI Gateway systems, Premier Fahie announced that Government will be bringing "a revised budget very soon, to make sure that persons stay within lines so that we do not get involved in deficit spending. So that we do not have to cut public officers' pay or cut public officers from the payroll.”

He added that even with the cut in spending, jobs will remain intact and that the government is projected to pay increments due for 2017, as well as execute its plans for job reclassification and salary reviews.

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