Saturday, March 08, 2014

Distribution of Budget 2014 by BVI Government

The budget approved by the House of Assembly by the end of the budget process was US$302,306,000, while previously it had been US$301, 746,000, being announced in January by the British Virgin Islands Premier and Minister of Finance, Hon. Dr. Orlando Smith. Projected taxes, as part of revenue, make US$282,659,000, and other fees are planned to account US$19,091,000.

Also, for 2014 the presented operating expenditure was US$248,349,500, US$180,730,100 of them for wages and salaries. BVI Government is also planning to place some US$15.5 million into the Reserve Fund. 

According to the approved expenditure by the House of Assembly, the BVI Government committed to undertake US$26,986,000 in capital works disbursed as the Deputy Governor, US$215,000; Premier, US$800,000; Ministry of Finance, US$200,000; Ministry of Natural Resources and Labour, US$4,150,000; Ministry of Education and Culture, US$3,300,000; Ministry of Health and Social Development, US$4,375,000; and Ministry of Communications and Works, US$11,350,000.

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