Grenada's Prime Minister Deacon Mitchel Monday presented an EC$1.3 billion (one Eastern Caribbean dollar = 0.37 US cents) national budget to Parliament and announced a series of relief measures for citizens amounting to more than EC$50 million.
The Minister said that after 6% growth this year, the economy is expected to grow by another 3.6% in 2023, supported by a strong recovery in tourism and robust construction activity.
"As a government, we are committed to doing all we can to protect our citizens from the negative impact of high prices, especially for food, fuel and other essentials, for as long as necessary," the Prime Minister said.
"The priorities of the 2023 budget are based on the government's strategic transformation agenda that puts people first and lays the foundation for the sustainability, empowerment and growth set out in its Medium Term Action Plan 2023-2025", the budget document says.
Prime Minister Mitchell said the budget is fully funded and is expected to have an overall surplus of EC$62.7 million in 2023.
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