ROSEAU, Dominica: In his 2008/2009 Budget Address, Prime
Minister and Minister for Finance, Roosevelt Skerrit,
announced a package of relief measures to mitigate the
negative impact of rising food and fuel prices on the
population of Dominica, while at the same time
maintaining his government’s reputation for prudent
fiscal and economic management.
In the 2008/2009 fiscal year, Government also intends to
continue to invest heavily in housing, education,
information and communication technology and agriculture
and in the execution of its capital programme.
The Budget makes provisions for more financial
assistance for disadvantaged and vulnerable groups.
Effective, July, 2008, allowances granted under the
social assistance programmes will be increased by 10
percent. The amounts paid as public assistance will be
increased by 50 percent, effective July, 2008.
 |
Prime Minister of Dominica,
Roosevelt Skerrit.
AFP PHOTO |
All persons 65
years and older and as well as infants and young
persons up to 18 years of age who are still at a
formal education institution, will be exempted from
the payment of hospital fees. The school transfer
grant for needy children moving from primary to
secondary school, will be doubled in this fiscal
year to $500.00.
In response to rising food prices, exacerbated by
the rising cost of fuel internationally, the Prime
Minister announced that effective August 1, 2008,
tariffs will be eliminated on fifty-two household
items.
The Prime Minister also announced a decision by
Government to set the customs service charge on
petroleum products to zero percent. Government has
also decided to remove the excise tax on Liquefied
Petroleum Gas (LPG) into Dominica, resulting in a
revenue loss of $1 million.
The second phase of the income tax reform programme
was announced with the population expected to
benefit from additional tax relief, effective,
January 1, 2009. The cost of this measure for the
period, January to June, 2009 is $4.9 million.
Despite the impact of Hurricane Dean which wiped out
20 percent of GDP, Government is projecting a
current account surplus of $2.8 million for the
2007/2008 fiscal year and a primary surplus of $12.7
million.
In the 2008/2009 fiscal year, Government’s recurrent
spending on education is projected to reach a record
$52.5 million. An amount of $41.6 million (capital
budget) has been allocated to the Ministry of Public
Works and Infrastructural Development, reflecting
the commencement and continuation of a number of
capital projects to include the Road Improvement and
Maintenance Project (RIMP), the Roseau Road
Reinstatement Project, the Canefield to Melville
Hall Road, among other projects.
Through the Ministry of Public Utilities, Energy and
Ports, work will continue on the Melville Hall
Airport air access improvement programme in the new
fiscal year.
The Housing Revolution programme will continue in
this fiscal year with the completion of houses at
Hillsborough Gardens, Belle Vue Chopin, Chance,
Dublanc, Bioche and the Carib Territory, among other
areas. In the 2007/2008 fiscal year, over 500 houses
were repaired in twenty-eight communities
island-wide. Several families benefited from low
interest facilities at the AID Bank and the
Government Housing Loans Board.
Government’s vision to exploit Dominica’s geothermal
energy resources was underlined further when the
Prime Minister announced a decision by Cabinet to
approve the exploration of geothermal energy
development through the efforts of West Indies Power
Company, the Agence Francais de Development(AFD) and
the French Global Environmental Fund(FFEM).
The draft estimates of expenditure for the fiscal
year 2008/2009 amounts to $391,755,517,comprising
recurrent expenditure of $248,612,718 and capital
expenditure of $143, 142,799.
|
