CATEGORY:NATIONAL BUDGET
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The following is the INTRODUCTION to the 2006 Estimates of Revenue and Expenditure (delivered by the Hon. Anthony Boatswain, the Minister of Finance) which was presented under the theme, "Consolidating Growth, Enhancing Revenue and Providing Safety Nets for the Vulnerable.”




MR. SPEAKER,I beg to move the following Motion standing in my name: “Whereas it is necessary to provide for the State of Grenada for the year 2007 by means of an Appropriation Act, be it resolved that the Estimates of Revenue and Expenditure for the year 2007 be approved.” I also have the consent of the Governor-General to proceed with this Motion.

Mr. Speaker, I would like to begin this Budget Presentation in the usual manner by expressing thanks to Almighty God for having guided us safely through yet another year and to seek his continued blessing and guidance for 2007 and beyond.

Indeed Mr. Speaker, the last twelve months have been most challenging, as we continued the task of restoring livelihoods and rebuilding our country from the ravages of two major natural disasters, with limited human and financial resources.

This situation has been exacerbated by external shocks, such as rising fuel prices during the earlier part of the year, higher consumer prices and falling demand for our primary commodities. Notwithstanding these challenges, as a Government and people we have done a commendable job.

We have seen strong economic recovery in 2005, which continued in 2006; we have restored fiscal strength through a successful debt restructuring agreement with our Paris Club creditors; we have seen in recent times a resurgence in private sector interest by local and foreign investors alike, committed to fulfilling their plans for economic reconstruction; in short Grenada is open for business again.

These achievements could not have been possible without the strength of a team, headed by our Prime Minister, who demonstrated vision, commitment and clarity of thought and action in directing and leading the process forward. But most important of all, we must give ourselves credit; we all joined together in a common cause and unleashed our creative energies and worked for the good of all.

Of course, we were not alone in our efforts; we had the support, solidarity and generosity of the international community; of Grenadians abroad, of friends and well wishers the world over, most important of all, the guidance of the Almighty.

Today, as we reflect on the achievements and shortcomings of the past year and compare our recovery with the destruction in 2004, we can safely say that, we are a far more united and patriotic people. In adversity there is Unity! This was clearly demonstrated in the large turn out and active involvement of thousands of Grenadians and friends of Grenada at our National Independence Celebrations earlier this year.

Mr. Speaker, while our recovery is doing reasonably well we are now faced with the major task of ensuring that it is sustained. We are mindful that some of our people are still living in vulnerable areas and in substandard conditions. We are also mindful that there are those who are unable to fully satisfy their basic needs. Morally, we are compelled to act, on their behalf.

Therefore as we applaud our efforts, we have to ensure that we do not lose our gains and that our friends do not lose faith in us. It is for these reasons that the theme for this 2007 Budget is: “Consolidating Growth, Enhancing Revenue and providing safety Nets for the Vulnerable.”