Premier unveils record $550.6M budget for 2026
Premier and Minister of Finance Dr Natalio Wheatley
Premier and Minister of Finance Dr Natalio Wheatley has unveiled the Virgin Islands’ largest ever budget, totalling a record $550.6 million for 2026. The figure marks a significant jump from the $382.67 million budget approved in 2024.
Delivering his address under the theme “Pillars of Progress”, Wheatley said the record spending reflects the government’s continued focus on building a sustainable Virgin Islands guided by the National Sustainable Development Plan, Vision 2036.
“The government anticipates fulfilling its commitments to the public with a proposed budget totalling $550,590,051,” Wheatley stated. “This is the biggest budget in the history of these Virgin Islands,” he added.
The 2026 allocation includes $442.3 million in recurrent expenditure, $79.9 million in capital expenditure, and $20.8 million in debt servicing. Projected revenue collections stand at $446 million, supplemented by loans and contributions from existing funds.
Sector Allocations for 2026
Constitutionally Established Departments – $20.4 million
Governor’s Group (including Deputy Governor’s Office) – $60.7 million
Premier’s Office – $21.9 million
Ministry of Tourism, Culture and Sustainable Development – $19 million
Ministry of Financial Services, Economic Development and Digital Transformation – $23.2 million
Ministry of Finance – $38 million
Ministry of Environment, Natural Resources and Climate Change – $18.2 million
Ministry of Education, Youth Affairs and Sports – $76.2 million
Ministry of Health and Social Development – $87.6 million
Ministry of Communications and Works – $101.3 million
Pensions, Public Debt and Funds Contribution – $69.7 million
Miscellaneous Expenditure – $6.9 million
Fund Contributions (mandated by law) – $7.5 million
Wheatley said the allocations would fund programmes aimed at driving growth in infrastructure, governance, and social empowerment. “The government’s development agenda for the coming year is both ambitious and comprehensive, focusing on economic growth, infrastructure resilience, social empowerment, environmental sustainability, and robust governance,” he explained.
He noted that capital spending will prioritise projects such as the Terrance B Lettsome International Airport expansion, national water distribution improvements, and road rehabilitation.
The Premier reaffirmed his administration’s commitment to “sound governance, honesty, integrity, and accountability”, emphasising that fiscal management would remain guided by the Protocols for Effective Financial Management.
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100 million dollar deficit? Am i missing something?Happy to be corrected as I only skimmed.
Seems to me like borrowing from our children’s future…
I pray for our future generations. They will be locked in debt for life if we do not be cautious.
No, you didn’t misread it and you’re correct about the deficit. This is a 45% increase over this year’s budget, and that’s astonishing. Note these line items and tell me that there’s no redundancy here:
– Ministry of Financial Services, Economic Development and Digital Transformation – $23.2 million
– Ministry of Finance – $38 million
These are just a few examples but note this from the article: “$20.8 million in debt servicing,” which is just interest payments on existing debt.
It is shocking how irresponsible this Territory’s government behaves.
Can we please ask the Governor to demand these after a DECADE of no accounting and accountability?
If the UK, governer and UK’s Parliment wanted ACCOUNTABILITY for this terrtory the would be ACCOUNTABILITY.
Don’t. be fooled, where there is plenty cheese there are ton loads of rats.
What kind of governship allows mis events on portfolio responsibilities among other seemingly oddities?
Let us hope that none of that budget is used for any crappy MUSIC FESTIVAL.
$500 Million is just enough to buy Natalio his own private Boeing 747 Dream Liner to ease his travel stress
Where is all this money going? From what I have seen around the islands, it’s not for roads, sewers etc.
Salary for the Trinidadian advisor and his wife who works at the airport and looks down on locals. Well except for RL who she is very very very close to.
Can’t get a tourism plan together in a year but is going to start the Airport next year. Lookout for flying pigs!!!!!
I honestly hope , he included the retired civil servants ,
I hope this time he didnt forgot ..