2023 Budget Will Allow St. Kitts and Nevis to Successfully Navigate Challenges in the Year Ahead

BASSETERRE, St. Kitts, December 20, 2022 (SKNIS) – Prime Minister and Minister of Finance, the Honourable Dr. Terrance Drew, in wrapping up the debate on the 2023 Budget, said the Government has introduced a comprehensive and innovative National Budget that will allow St. Kitts and Nevis to boldly face the varying challenges the country will likely face in the upcoming year.

“2023 will present its own challenges but we will step up to these challenges with innovation, hard work and commitment,” Prime Minister Dr. Drew said in the National Assembly on Monday (December 19) evening, shortly before the passage of the Appropriation Bill (2023), 2022, of approximately EC$1.02 billion, was passed into law.

The honourable Prime Minister said provisions have been made in the Budget to help St. Kitts and Nevis build towards resiliency, particularly in the face of growing threats because of climate change.

The Prime Minister said, “We are facing an existential threat because of climate change and we are expecting the temperature to reach and possibly surpass 1.5 degrees Celsius and with that, we expect significant changes in the climate including stronger hurricanes which we are prone to that we expect can cause significant damage and therefore we have to prepare ourselves for the changes that are to come, and so we have prepared a Budget in response to all of that.”

Prime Minister Dr. Drew said the 2023 Budget was prepared in a relatively short period of time by a competent Government and in consultation with relevant stakeholders across St. Kitts and Nevis.

Dr. Drew added, “You quickly recognize that on this side [of the House] we have people who are youthful, yes, but also who have demonstrated competence in the various fields, and that is why in such a short time we were able to put such a Budget together—a transformative Budget, a Budget that will change St. Kitts and Nevis.”

The 2023 Budget, which was presented under the theme “Towards Our Transformation as a Sustainable Small Island State”, was unanimously passed on Monday, December 19, 2022, after four days of presentations and debates.

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