Grenada dropped its fattest budget ever at EC$1.96 billion, which is about EC$47 million more than last year. Finance Minister Dennis Cornwall said the whole thing is covered, even with an EC$309.8 million deficit that gets handled through government deposits and some borrowing. The money goes toward oil and gas development plans, an EC$50 million housing fund, and a youth agency.
Cornwall told parliament the budget pushes their transformation agenda and banks on people driving progress instead of top-down government moves. The recurrent revenue hits EC$1.3 billion while capital spending comes in at EC$370.4 million.
The government wants to wrap up technical reviews on hydrocarbon potential and lock down exploration deals within 12 months. They are setting up a regulatory body for the oil sector and working through environmental assessments, plus maritime border talks with Venezuela and Saint Vincent.
Cornwall told parliament the budget pushes their transformation agenda and banks on people driving progress instead of top-down government moves. The recurrent revenue hits EC$1.3 billion while capital spending comes in at EC$370.4 million.
The government wants to wrap up technical reviews on hydrocarbon potential and lock down exploration deals within 12 months. They are setting up a regulatory body for the oil sector and working through environmental assessments, plus maritime border talks with Venezuela and Saint Vincent.
