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St.
John’s
, 31st
March…….. The Government of Prime Minister the Hon. W.
Baldwin Spencer on Wednesday unveiled its “Agenda for
Change” during the presentation of the 2004 Budget of over
five hundred million dollars.
The
Budgeted Recurrent Expenditure is $563, 676, 063, while the
Recurrent Revenue stands at $541, 091, 412 – a deficit of $22,
584, 651.
Minister
of Finance and the Economy, Dr. the Hon. Errol Cort while
delivering the Budget, outlined that the Government intends to
finance this deficit by
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pursuing
a policy of privatization among selected publicly held assets,
with a view toward creating the opportunity for citizens and
residents to participate in the ownership of these assets.
“This
is a mammoth challenge that my Government intends to confront
aggressively. We
intend to review and update the country’s debt profile over
the next ninety days so that we could give an account to the
public of
Antigua and Barbuda
,” Dr. Cort noted.
The
Ministry of Education, Human Development and Culture also
received a huge share of the budgetary allocations.
Thirteen point nine six (13.96%) of the recurrent
expenditure or $78, 690, 853 will go towards this division of
government.
According
to Dr. Cort, “My Government is committed to raising the
literacy rates and to promoting civic pride and energizing the
socio-cultural awareness of our people.
In this regard, we intend to reform the Ministry of
Education to allow for the more effective management of our
school system.”
The
Health, Sports and Youth Affairs Ministry under Minister John
Maginley received 13.54% or $76, 346, 307 of the Budget.
It was pointed out that the first year of the United
Progressive Party’s term in office will focus on redefining
the role of the Community Sports and Games Department and the
National Sports Council.
“The
budgetary allocations to Youth Affairs will be utilized to
mobilize a National Youth Council which will be designed to
facilitate the execution of youth empowerment programmes and a
Youth Business Development Project as a dedicated business
incubator for young persons between eighteen and thirty years of
age,” Dr. Cort outlined.
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The
Ministry of the Prime Minister which has been restructured
with the rationalization of the existing Ministries
received the second largest budget allocation of 14.08% or
$79, 343, 811.
The
Ministry has been reconstructed with the addition of the
Police, Police Training School, Fire Brigade,
Establishment Division, Public
Info
rmation and Broadcasting, Labour,
Barbuda Administrative and General Services, Prison and
National Office of Disaster Services.
Removed and reassigned to the Ministry of Tourism,
Foreign Affairs, International Transportation and Trade
were External Affairs, Overseas Diplomatic and Consular
Section, and Immigration Unit. (Ends) |
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