Government

Bryan Projects Financial Stability in 2021 Due to Government Projects, Cost-Cutting

Eighteen of the V.I. government's arms joined the Office of Management and Budget Wednesday virtually for its latest Revenue Estimating Conference. There, departments and agencies provided a fiscal year 2021 revenue outlook, with the key takeaway being Governor Albert Bryan's stance that the territory, in fiscal year 2021, would be on solid footing financially.  Mr. Bryan said during the event that despite the adverse effects of Covid-19 on the economy, the USVI will maintain a level of stability through the 2021 fiscal year. The governor's outlook is a departure from what he's said in the past, when he warned that 2021 would be a difficult year for the territory in terms of revenue, owing to the economic downturns caused by the Covid-19-induced shutdowns. Mr. Bryan's confidence is based on what he said were government projects that would undergird economic activity, and cost-cutting, though those efforts were not highlighted in a release the administration issued Wednesday night.  “...