Prime Minister Roosevelt Skerrit has announced Tuesday 28th July 2020 as Budget Day in Dominica.
“Budget day 2020 is set for July 28th 2020. The 2020/2021 Budget Address will be delivered to the nation…,” the prime minister revealed said during his weekly Anou Palay Programme on Sunday.
He said the Budget will be presented in the context of all of the challenges which the world is experiencing with Covid-19.
“We never had this in our life with our country’s borders completely closed, the entire world borders closed, hotels shutdown, restaurants shutdown, barbershops, churches,” Prime Minister Skerrit stated. “This has affected every citizen.”
He told the public to expect some very exciting things in the Budget notwithstanding the challenges, “because in every challenge, in every crisis we have to look for the opportunity and this is what we are seeking to do in this year’s Budget.”
The Prime Minister said one has to appreciate that a Budget is a plan for 12 months.
“You implement the projects that can benefit the country in years to come,” he stated.
He said the government intends to launch a major initiative to provide financing for small and medium size businesses.
“Because many small and medium size businesses keep complaining that they do not have access to financing and those who do it’s expensive,” he stated. “And small and medium size businesses are critical to the continued survival of the economy and creation of jobs.”
He continued, “We are going to be launching a three-year programme of financing to small businesses, that will also include the passage of legislation to create the legal framework for the operation of small businesses where concessions are concerned, physical incentives are concerned and recognition to the small business sector in our country.”
Prime Minister Skerrit went on to say his government will be launching a 3 year $30 million initiative for the small businesses in Dominica.
He said the funds will be managed by the AID Bank and lent to the small business owners at 1 percent.