budget statement 2012.indd - Grenada Customs & Excise Division

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The Caribbean Regional Technical Assistance Centre (CARTAC) The Food and Agriculture Organisation (FAO) of the United Nations The Federal Republic of Germany The Government of the Republic of Korea The Inter-American Institute for Co-operation on Agriculture The Association of Caribbean States The Caribbean Export Development Agency The Organisation of Eastern Caribbean States (OECS) The Caribbean Regional Negotiating Machinery (CRNM) The Caribbean Financial Action Task Force (CFATF) The Caribbean Anti-Money Laundering Programme (CALP) The International Renewable Energy Agency Mr. Speaker, we thank our citizens, labour unions, business and civil society, all of whom have contributed to this Budget. I am grateful to the Prime Minister and my Cabinet Colleagues for their understanding and support in the preparation of this Budget. I take this opportunity to express my deepest appreciation to the Permanent Secretary, Deputy Permanent Secretaries, Chief Budget Officer and members of the Budget Unit, Policy Unit, Corporate Communications Officer, management team and staff of the Ministry of Finance, Manager and staff of the Government Printery. I thank Permanent Secretaries, Heads of Non-Ministerial Departments and other public officers who have contributed to the preparation and delivery of this Budget. We also thank the Clerk of Parliament and staff for their assistance in the preparations for today’s Presentation. Finally, Mr. Speaker, I wish to thank you for permitting the use of technology to support my presentation today. 2012 Budget Statement Page 65
8.0 CONCLUSION Mr. Speaker, the recession is over and Grenada is growing again. This Budget has been carefully crafted to consolidate this recovery while advancing our transformation agenda. There are no new taxes. I repeat – no new taxes. There are no cuts in social programmes or safety nets. The capital budget has been increased to $235.2 million. When compared with the $163.2 million spent last year, this is an increase of $72 million. Several major public sector projects have started or will start later this year leading to increased economic activity and job creation. We have announced an exciting programme for our youth. The FIT for Work programme will train 2,000 of our young people and provide employment opportunities. We have secured $28.5 million for nine additional schools. Human resource development continues to be a hallmark of this Administration. We have increased the allocation for marketing Grenada by $2.0 million. Mr. Speaker, after many attempts, over many years, Grenada will finally have an international five-star resort. We have allocated $1.5 million for the Farm Labour Support Programme, an increase of $650,000 or 76%. We have extended the tax rebate for manufacturers. We have removed VAT from coffins. We have removed VAT on alcohol as an input for small manufacturers. Page 66 2012 Budget Statement
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CONTENTS 1.0 INTRODUCTION 2.0 INTER
Page 4 and 5:
1.0 INTRODUCTION Mr. Speaker, I beg
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Last year, the US economy is estima
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2.3 Economic Performance of the Eas
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2.5 ECCU Eight-Point Stabilisation
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Manufacturing -4.9 -5.3 3.9 1.5 Ele
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which serve as a proxy for employme
Page 16 and 17:
TABLE IV - PERFORMANCE OF VAT AND E
Page 18 and 19: US$6 million - October 1997 US$10 m
Page 20 and 21: Education and Human Resource Develo
Page 22 and 23: • Cuthbert Peters Park in Gouyave
Page 24 and 25: 4.0 FOCUS AND THEME OF 2012 BUDGET
Page 26 and 27: During the past year, Government ad
Page 28 and 29: interest payments; and a further $7
Page 30 and 31: • Water Charges - 25% reduction
Page 32 and 33: The focus this year is on the imple
Page 34 and 35: Energy Development is a pillar of t
Page 36 and 37: The direct benefits of this Program
Page 38 and 39: This is an exciting and promising i
Page 40 and 41: nesses commenced operations within
Page 42 and 43: Since January 2011, VAT on cement,
Page 44 and 45: 6.7 JOB CREATION: IMPLEMENTATION OF
Page 46 and 47: Tenders for the construction phase
Page 48 and 49: Venezuela Multi Project This projec
Page 50 and 51: In terms of infrastructural develop
Page 52 and 53: Health System Strengthening Governm
Page 54 and 55: Government will continue its effort
Page 56 and 57: 4. Construction of Dover Hard Court
Page 58 and 59: Cabinet has received the report and
Page 60 and 61: With the support of the Government
Page 62 and 63: or Tainos - and to continue to rais
Page 64 and 65: 6.23 LAW AND JUSTICE In 2012, the M
Page 66 and 67: The Force will also modernize its K
Page 70 and 71: Mr. Speaker, the 2012 Budget shows
Page 72 and 73: Annex II RevenueCollectionsbyDepart
Page 74 and 75: Annex IV GrenadaFiscal&DebtIndicato
Page 76 and 77: Annex VI UseofPetroCaribeFunds 2011
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budget statement 2012.indd - Grenada Customs & Excise Division

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