BRADES, Montserrat, January 12th, 2012  – The annual budget projections for 2012/2013 are under review as the Department for International Development mission looks at whether Montserrat has kept its end of the bargain to reduce spending and find new ways to increase revenue.

DFID, through the various officials who visited in 2011, have reiterated that it would only consider new spends for the Government if they were found to be economically viable and accelerated Montserrat’s move towards self-sustainability.

The DFID team lead by Montserrat Programme Manager Karen McGeough will conduct meetings with various department heads and the budget team, lead by Financial Secretary Hon. John Skerritt until January 19. They will review progress against Government of Montserrat’s (GoM) policy framework and strategic plans, formulate recommendations for budgetary assistance levels for 2012/13, and provide indicative levels for 2013/14 and 2014/15. 

According to the DFID Mission programme “In consultation with DFID, GoM are in the process of developing a "Strategic Growth Reform Plan". This will set out a roadmap to improve public sector efficiency, effectiveness, accountability and fiscal management. In addition, it will include a set of policy measures and actions to create an enabling environment for stimulating private sector development, economic growth and improving Montserrat's financial self-sufficiently.

“The total level of support provided by DFID for 2011/12 is currently forecast at £24m, which includes £13.12m budgetary aid, up to £4.2m to meet Social Security Fund arrears and an estimated £5m in capital projects. 

“The January discussions will aim to agree recommendations for budgetary aid for 2012/13, and provide indications for 2013/14 and 2014/15.   This will include any provisions judged necessary to subsidise air and/or ferry service operations.

The mission will also seek to agree provisional allocations of funding financial aid projects for 2012/13.  DFID plans to move to a multi-year assistance framework when the Medium Term Economic Framework is fully in place and operating effectively,” the programme stated.

The DFID team comprises of Rick Erlebach (Senior Economic Advisor), Drew Tetlow (Governance Adviser), Mary Thompson (Social Development Adviser) and Kato Kimbugwe (Private Sector Adviser and in-country representative). 

The Core team from the GOM are Hon. John Skerritt, Deputy Governor Sarita Francis, Cabinet Secretary Angela Greenaway, HR Advisor Jean Blackstock, Budget Director Lindorna Brade, with Angela Estwick, and Joseph Irish from the Ministry of Finance & Economic Development.
   

*************************
DISCLAIMER

 
This article was posted in its entirety as received by SKNVibes.com. This media house does not correct any spelling or grammatical error within press releases and commentaries. The views expressed therein are not necessarily those of SKNVibes.com, its sponsors or advertisers