Towards Growth and Social Protection
(A People's Guide to the Budget Estimates 2005/2006)
The guide contains:
- Current Situation
2004/2005 GDP of EC$747 million (MM)..GDP per person $10680 based on 70,000 population. Government targets growth rate of 3% to come from construction, manufacturing, agricultural niche markets, tourism - Economic Indicators
low inflation, uncertainty of energy prices, imports stronger than exports, increased borrowing by private sector, economy is not competitive, debt to GDP is high, issue with Social Security, high unemployment - Budget highlights
introduction of the VAT, outsourcing of certain services, construction of a poverty map and implementation of the Dominica Social Investment Fund - Budget at a glance
Government expected to raise $311 MM revenue (trade, domestic consumption, income taxes, grants/loans, capital revenue - (sale of land, etc) and spend $309 MM (public wages $107MM, goods & services, debt service 15%, public assistance 10% etc) - Capital projects
airport upgrading, ecotourism (sites, master plan, marketing), Roseau valley roads, machine readable passports, social protection programmes, construction of three primary schools, Carib Territory, young farmer training, Windsor Park - Public debt
$633 MM at end of June 2005.. about 85% of GDP or $9043 per person - Others
public sector reform, Ministries' annual corporate plans, review of key result areas (KRA's) in plan at end of year, improvement on land etc registration, regulation of energy sector, electronic customs procedures, better management of public finances
In neither the Budget nor the Guide is there any significant mention of contributions of the Diaspora to social or economic development.
It would be very beneficial if a small core of DAAS members reviewed the budget for purposes of comment and recommendations.
Dr Clayton A. Shillingford
President, Dominica Academy of Arts & Sciences