Premier Dr. the Hon. Natalio Wheatley has announced that Tuesday, October 29, will be Budget Day for the Virgin Islands, marking the official presentation of the territory’s 2025 financial plans.
While Premier Wheatley has kept details of the upcoming budget under wraps, he hinted during a recent interview on JTV’s Big Story that it will showcase the significant revenue generated from tourist arrivals over the past year. According to Wheatley, this revenue will highlight the positive impact tourism continues to have on the BVI economy.
The 2024 budget, presented last year, totalled $382.67 million, prior to the passing of any supplementary appropriations throughout the year by the House of Assembly. In his previous budget address, Premier Wheatley projected that $360.24 million would be generated from taxes, with an additional $5.96 million expected from grants and $16.47 million from other revenue sources.
As the 2025 budget date approaches, many in the territory are eager to see how the government plans to allocate resources for key sectors, including tourism, infrastructure, agriculture and public services, particularly after a year of fluctuating economic conditions.