SVG 2010 Budget put back until January

The 2010 Budget has been postponed until sometime in the second fortnight of January.{{more}}

This announcement was made on Tuesday, December 1, by Prime Minister Dr. Ralph Gonsalves.

He said the Budget, also known as the Estimates of Revenue and Expenditure and the Appropriation Bill, had to be delayed as a result of the “long campaign on the Referendum”.

A similar budget postponement took place in 2005 when the General Elections were held in December of that year.

“There is no real disadvantage to doing this. I just want to assure my fellow Vincentians,” said Gonsalves, adding that the law provides for expenditure in the month of January to be one twelvth of what the budget was for the preceding year (2009).

“There is no gap. There is no breach. There is no hiatus. It is simply a matter of ensuring that all the policy issues are sharpened for the year 2010,” said Gonsalves.

He admitted that 2009 has not been a “walk in the park”.

The prime minister said that though economic recovery is taking place in other parts of the world there remain uncertainties. (HN)