ST. GEORGE’S, Grenada, CMC – Prime Minister Dr. Keith Mitchell presented his first national budget in six years outlining a series of measures he hopes would stimulate a sluggish economy even as he announced cuts in government expenditure for the next 12 months.
In presenting the EC$711 million (One EC dollar = US$0.37 cents) fiscal package to Parliament on Tuesday, Mitchell, who is also the finance minister, said that current revenues are projected at EC$448.2 million, while capital expenditure is projected at EC$262.4 million.
It is the first budget for Mitchell, who led his New National Party (NNP) back into office after a five year stint in opposition.