TCI News

TCI: Budget reduced for 2019-2020

#Providenciales, February 19, 2019 – Turks and Caicos – Turks and Caicos government has forecast a reduction in government expenses for the upcoming fiscal year by $36 million, which means a smaller national budget. 

Premier and Finance Minister Sharlene Robinson, today in the House of Assembly laid the Financial and Strategic Policy Statement touting growth in the hotel and restaurant sector by three percent, in the real estate sector by 3.7 percent, in agriculture and fisheries by two percent and in transportation by two percent. 

Still, government expenses will drop drastically to $254.2m with operating surplus announced as $7.9m.

In 2016, the Budget under the PNP administration was $236m; in 2017, the new PDM government increased it to $268m and last year was the country’s largest ever national budget, at $290m. 

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