Nevis Premier Gives Budget Address
Charlestown, Nevis
December 10, 2008
Premier of Nevis and Minister of Finance in the Nevis Island Administration, the Hon. Joseph Parry presented his third budget address to the citizens of Nevis, at the Nevis Island Assembly Chambers in Charlestown on Tuesday.
Addressing the packed gallery of persons from the islands private and public sector and students of the Charlestown Sixth Form College, the Minister of Finance stated, that the island of Nevis has progressed under the leadership of the Nevis Reformation Party Government.
He explained that spending on capital projects is imperative for any developing country to stimulate growth. Premier Parry went on to say, “It is with this in mind, that this government has pursued the extensive renovation of roads and water development since being elected in 2006. However, due to the gloomy global economic outlook for the next fiscal year we would have to consolidate our fiscal position by more tightly controlling capital and current expenditure.”
Capital expenditure is therefore set at $35,696,059 representing a considerable decrease from the $60,186,000 in 2008. Capital expenditure will be financed as follows: Revenue-$15,250,000; Loans-$19,000,000 and Development Aid-$1,446,059.
