Dominica: Parliament approves an amount of ECD 235,717,376.20 for Supplementary Estimates of Expenditures

Roseau, Dominica: The government of the Commonwealth of Dominica had announced that before the first session of the eleventh parliament, a Supplementary Estimates of Expenditures was approved for the financial year will an amount ECD 235, 717, 376.20.

The Finance, Economic Development, Climate Resilience and Social Security Minister, Dr Irving McIntyre, lauded the national economy management for in light of the effects of the global COVID-19 pandemic as well as the growing cost of food, fuel and shipping due to the war in Ukraine.

The minister was quoted saying, “The current government of Dominica will never stop to implement the measures to stabilize the finances of the country. The government will make sure that the fiscal resilience is build and the people of Dominica is relieved to facilitate the sustainable economic.”

He further asserted that the fact is clearly visible in the decreased numbers of off-budget expenditure for the Fiscal Year 2021/2022 as well as greater targeting of expenditure to the productive sectors and the vulnerable. Based on the feedback received from many of our international partners, this government is heading in the right direction.

It stated that XCD 11,579,103 has been advanced to the Finance Ministry to re-attain the majority share ownership in DOMLEC and keep up with its share ownership of the National Bank of Dominica. Along with this, $28,307,370 will be paid as due diligence fees to around seven (7) internationally recognized agencies to maintain the integrity of the citizenship by investment programme.

McIntyre further informed that around $61,014,350 amount has been allotted for the construction of the housing units under the Dominica Housing Recovery Project. Through this fund, Micro and Small Business Enterprises affected by the global pandemic COVID-19. The allotted amount will also fund Modern Resilient Housing Development Programme.

The minister further outlined that other expenses related to climate resilient infrastructure will also be maintained under this amount. Along with this, under the European Union Funded Rehabilitation Post-Hurricane Maria Housing-11th EDF B-Envelope Project houses will be constructed for Kalinago Territory.

The Minister outlined that the government will continue to offer decent living standards to the vulnerable communities of the country. He also added that affordable accommodation will be provided to every needy Dominican as a home provides comfort and luxury to an individual.