Budget Speech 2011 - Government of Grenada

Public Debt – $188.3 million (or 24.1%)
Ministry of Education and Human Resources - $115.7 million (or 14.8%)
Ministry of Finance - $79.0 million (or 10.1%)
Ministry of Health - $63.6 million (or 8.1%)
Police - $46.9 million (or 6.0%)
Ministry of Agriculture - $40.5 million (or 5.2%)
Ministry of Works - $33.4 million (or 4.3%)
Ministry of Tourism - $31.6 million (or 4.0%)
Mr. Speaker, you would note that the public debt accounts for 24.1% of
total expenditure. I wish to specifically address this issue. I will return to it
a little later in my presentation.
Of the $446.0 million in current expenditure, $240.7 million will be
spent on personal emoluments; $54.6 million are earmarked for interest
payments; and a further $79.1 million are provided for transfers to
households including pensions and gratuities.
The $203.7 million allocated for capital expenditure represents an increase
of $53.5 million or 35.6 percent relative to the estimated outturn for 2010.
This is financed by $135.5 million or 66.5 percent from local revenue;
$35.3 million or 17.3 percent from external grants and the remaining $33.0
million or 16.2 percent from external loans.
Mr. Speaker, the significant increase of the capital budget is intended to
spur economic recovery and job creation.
Total current revenue for 2011 is projected at $454.2 million, 7.2 percent
higher than collections in 2010. This projection includes $213.5 million
from Customs and Excise and $187.9 million from Inland Revenue.
Non-tax revenue is projected at $43.1 million, a 5.9% increase over 2010.
Government projects a current account surplus of $8.1 million.
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2011 Budget Statement