#Providenciales, February 22, 2019 – Turks and Caicos – The Turks and Caicos budget does grow for the
2019-2020 fiscal year to $301 million, the largest ever for the
TCI. Premier Sharlene Robinson, during a press conference held at
her office on Tuesday, clarified that government expenditure before capital
injection is $254.2 million but when government receipts are added to the mix,
that pushes the operating budget to $11 million more than last financial year.
On Monday, Magnetic Media reported the $254m figure
as the national budget for the upcoming fiscal period; which would have been
roughly $40m less than last year; we now correct that report.
The figures were given during House of Assembly
session on Monday, where Premier Robinson laid the Fiscal Strategic Policy
Statement, which is already UK approved.
“In the medium term, the fiscal strategy will
continue to focus on credible management of government spending to ensure there
are budget surpluses over the course of the economic cycle while continuing to
improve on the substantial fiscal position. Critical success factors
will include boosting productivity and workforce
participation. Similar to 2018-19 financial year, the strategic
focus is on the economic recovery of the islands and economic growth.”
The FSPS was more than a one-year projection and
targets; Premier Robinson said it spanned four years and outlined growth in
hotel and restaurant; real estate; agriculture and fisheries and
transportation.
A 2019-2020 operating surplus was put at $7.9 million.
#magneticmedianews
#tcibudgetincrease