Government

OMB Forecasts Rising GVI Budget Amid Economic Growth in Tourism and Construction

The Senate Committee on Budget, Appropriations and Finance on Tuesday heard testimonies from the Bryan administration's financial team on the proposed Government of the Virgin Islands budget for fiscal years 2024 and 2025. However, as explained by the legislature’s legal counsel Amos Carty, in response to a query by committee chair Senator Donna Frett-Gregory, the provisions of the Executive Appropriations Act restrict the lawmaking body to consideration of revenue and expenditure estimates only for the upcoming fiscal year – 2024.  In the backdrop of a robust tourism industry and strong GDP figures, the GVI is projecting an ambitious $1.42 billion budget for fiscal year 2024. Director of the Office of Management & Budget Jenifer O’Neal expects an increase in revenues, with a substantial amount of these funds earmarked to fill vacancies in government service. In her testimony, Ms. O’Neal stated, “We have submitted a budget that includes over 658 vacancies in most departments for fisc...