The Grenada government yesterday presented a EC$1.1 billion dollar  budget to parliament with Prime Minister Dr. Keith Mitchell – indicating that most of the funding going towards the repayment of the public debt, which at the end of this year is estimated to be nearly 56 per cent of gross domestic product.

Presenting the fiscal package under the theme Towards Vision 2035, empowering our Communities, growing our Economy, Protecting our environment, strengthening our institution,  Dr. Mitchell said that Grenada is expected to continue its strong fiscal performance for 2020.

He said that the public debt ratio is on a decline moving from 108 per cent in 2013, to 62.7 last year and projected to be 55.8 per cent by the end of the year.

The government said that Recurrent Revenue is estimated at EC$786.2 million, while Recurrent Expenditure is pegged at EC$633.7 million.

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