“Strengthening economic management and building a platform for sustained prosperity” is the theme for the 2009 budget which Prime Minister Hon. Tillman Thomas describes as pivotal. He said the 2009 budget will be “pivotal” because it’s the first of his administration since taking office in July 2008 and the fact that it comes at a period of “a potential world economic crisis which will have negative implications for small countries and our ability to achieve our plans.” The Prime Minister said in the face of the global financial and economic downturn, there is a stronger and more urgent need for economic management and the establishment of a foundation for building future sustainability. “This will be quite challenging given the world economic outlook and our own scenario. A number of external issues namely continued high oil and food prices, slow down in most advanced economies and financial turmoil will adversely impact our fortunes. These issues will impact our tourist arrivals, remittances, foreign investments and ultimately government revenues,” he said. Prime Minister Thomas said currently, 90 cents of every dollar collected is used up servicing recurrent expenditure, large retroactive payments and sizable safety net programmes, leaving very little for capital investments. “It is incumbent on us that we ensure that the 2009 budget is rigorous, focused and driven by strategic priorities. Our plans must be well grounded and we should implement and manage more effectively. It is only by doing so that we will be able to garner the support, goodwill and resources of the international organizations and friendly countries,” the Prime Minister declared. He called on all Grenadians to take ownership of their country’s future, suggesting that the challenges that “confront us” require that all stakeholders work together for “our common good.” Prime Minister Thomas said that given Grenada’s current status, all the key stakeholders need to collectively agree on the way forward in order to help the country develop. Inside Grenada News