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The Budget statement for the year 2024 was laid in Parliament on October 2, 2023, and is the ninth budget of the current administration’s term in office. It comes at a time when global economy continues to face heightened inflation, weak growth prospects and significant uncertainties.
The theme of this year’s presentation is “Building Capacity for Diversification and Growth“. This theme we believe is fitting based on the current state of development of our country and the Minister of Finance has stressed, that this is in keeping with Government’s agenda of creating an economy that whilst small, could withstand significant shocks from outside influences primarily in the energy sector.
In addition to the Budget statement, the Honourable Minister also laid the Estimates of Revenue and Expenditure, The Public Sector Investment Programme and the Review of the Economy.
The Honourable Minister’s presentation outlines several initiatives addressing infrastructure, social development and changes in fiscal measures. Our team has summarized these initiatives in this document which we trust will provide an effective summary that you can refer to and consider in planning for the year ahead.