Housing, Youth Development and Agricultural resuscitation will be the focus of the ruling New National Party (NNP) Government of Prime Minister Dr. Keith Mitchell for this year.

Minister of Finance Hon Anthony Boatswain made this announcement when he presented a EC$611.8 million budget for 2006 last Friday at the Grenada Trade Centre at Grand Anse, St. George’s.

The senior government minister disclosed that the administration selected these areas as a result of consultation held with the Grenadian people before the budget.

According to Minister Boatswain, the Budget is a prescription for taking the country forward over the next few years. Of the EC$611.8 million Budget presented, EC$328.1 million forms Current Expenditure; EC$229.8 million for Capital Expenditure and EC$53.9 million for Amortization.

Minister Boatswain told the House that the positive economic outlook as well as the fiscal reform measures that the government has committed itself towards achieving augers well for the fiscal position this year.

He continued that for this year, they expect revenues to grow by almost EC$45.9 million (12.9%) over 2005 to EC$401.2 million. Tax revenues in particular are expected to increase from EC$324.8 million to EC$353.8 million. A total of EC$32.7 million has been allocated for Housing; EC$16.6 million for Youth Development and Training and EC$31.0 million to fund various projects in the Agricultural sector.

The other areas allocated monies include EC$11.5 million for Education and Training; EC$450,000 for the development of Sporting facilities throughout the country; EC$71.9 million for Physical Infrastructure; and EC$2.1 million for the development of Carriacou and Petite Martinique.

It was also noted that Government increased the Budget for Tourism Marketing from EC$9 million in 2005 to EC$12 million. According to Minister Boatswain, the alleviation of poverty and its ultimate eradication, remains at the top of Government's social development agenda.

He disclosed that a full-fledged Eradication Strategy Paper will be elaborated upon this year through a broad consultative process. This document will aim at sharpening the focus and coherence of the Poverty Reduction Initiative ensuring that scarce resources are directed to the most needy in the country.

Minister Boatswain disclosed that government will increase the monthly transfer to needy elderly persons mainly in the rural areas from EC$100 to EC$150 at a budgeted annual cost of about EC$4 million.
It was pointed out that more than 3,500 persons will benefit from this programme.

The budget also makes provisions for a scheme to temporarily subsidize the increase in bus fares for approximately 2,000 tertiary students at a budgeted annual cost of EC$1.5 million.

In addition, provisions will be made for free water supply; more free books and uniforms for needy children; and free medication for the elderly will be continued and expanded for the vulnerable members of society.