PRESENTED BY
HONOURABLE GREGORY BOWEN
Minister for Finance, Economic Development, Physical Development, and Energy
to
The House of Representatives
26 November 2021
10:00 am
1. Introduction
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 2022 by means of an Appropriation Act;
Be it resolved that the Estimates of Expenditure for the year 2022 be approved.”
Mr Speaker, as this is a Money Motion, I wish to signal to this Honourable House that I have the consent of the Governor-General to proceed.
Mr Speaker, in compliance with the Fiscal Responsibility Act, and Regulations under the Public Finance Management Act and the Public Debt Management Act, I wish to advise that the following reports will be submitted to this Honourable House:
- The Budget Framework Paper 2022, in accordance with Section 13 of the Regulations for the Public Finance Management Act No. 17 of 2015;
- The Medium-Term Debt Management Strategy 2022-2024, in accordance with Sections 5(1) to 5(3) of the Public Debt Management Act No. 28 of 2015, as amended;
- The Fiscal Risk Statement, in accordance with Section 12 (1) (e) of the Fiscal Responsibility Act No. 29 of 2015, as amended.
- The 2021 Economic Review and Medium-Term Outlook; and,
- The 2020 Annual Debt Report.
Mr Speaker, permit me to commence this year’s Budget Presentation by giving thanks and praise to the Almighty God for seeing us through yet another difficult year. At times, the challenge seemed insurmountable but we are a people of resolute faith in the power of the Almighty.
And so today, we are reminded in Jeremiah Chapter 29, Verse 11 and I quote, “For I know the plans I have for you,” declares the Lord, “plans to prosper you and not harm you, plans to give you hope and a future.” Mr Speaker, these eloquent words of wisdom provide the beacon that illuminates the path to the future, for we know that with God, all things are possible.
It has been 20 months since the COVID-19 pandemic started testing the strength and resolve of our nation, challenging us like never before, but through God’s grace and enduring mercies, we continue to survive and I am confident that we will also thrive.
Sadly though, 200 of our beloved citizens, especially our elderly, lost their battle with COVID-19. My heart aches for their relatives and friends and I sincerely pray for God’s comforting touch at this time.
Mr Speaker, the COVID-19 pandemic has upended our lives; its far-reaching impact depriving many citizens of their livelihood and leaving entrepreneurs struggling to keep their businesses afloat.
Our health care system, like many others around the world, was stretched to the limit, overwhelming healthcare professionals as they fought desperately to preserve life.
The educational journey of our students was disrupted and school administrators were hard-pressed to find that optimum balance between online and in-person learning. Young people have been deprived of critical socialisation skills as physical distancing replaced social interaction.
Notwithstanding this period of unprecedented challenge, our nation stands firm in the face of adversity, firm in the belief that this too, shall pass. The resilience of the Grenadian people is evident in our renewed sense of hope. With God as our strength and refuge, I am confident that we will emerge from this pandemic better, stronger and more resilient.
Mr Speaker, I applaud the collective efforts of our citizens in confronting this pandemic. I am especially grateful to those on the frontlines: our doctors, nurses, and other health care professionals; our national security personnel; our social workers and caregivers, our essential businesses and all others, who contributed in one way or another, to keeping our country safe.
I am grateful to the many stakeholders, including the business community, farmers, trade unions, religious organisations, youth groups, and civil society organisations for helping to shape Government’s COVID-19 strategy.
There’s an old proverb which says, in unity there is strength, which I believe is quite relevant to our current situation, as fighting this pandemic requires all hands on deck.
I therefore express sincere appreciation to our citizens, friends, and partners outside of Grenada for the outpouring of support during this crisis. We are especially thankful to our brothers and sisters in the diaspora who heeded our call for help in a moment of great need.
Mr Speaker, I am also grateful to the Hon. Prime Minister for the continued confidence reposed in me to lead the Ministry of Finance in this difficult period.
Mr Speaker, as a nation, we have managed this unprecedented crisis with equanimity and resolve. Government moved quickly at the onset of the pandemic to introduce difficult but necessary measures to protect us all.
Government also moved swiftly and decisively to cushion the adverse socio-economic impact on individuals and businesses by launching a COVID-19 Economic Stimulus Package in 2020, which amounted to over EC$50 million and benefitted over 7,000 people.
