ROAD TOWN, Tortola, VI- Premier and Minister of Finance Dr the Honourable Natalio D. Wheatley (R7) has said he is optimistic about the future of the Virgin Islands (VI) and that the economy is growing.
The budget debate which began Wednesday, December 18, 2024, during the continuation of the Twenty-first Sitting of the First Session of the Fifth House of Assembly (HoA).
Premier Wheatley said, “I am so optimistic Madam Speaker about the Virgin Islands and where it is going, the type of dynamic leadership we have taking the Virgin Islands forward.”
Dr Wheatley added that his view of the Territory is not a “dark view” like what was expressed by some members of the Opposition during their own contributions to the budget debate stating, “I see a Virgin Islands just brimming with possibilities and potential and I can see the success of the Virgin Islands and I can see the success of the people. I can see the success that is taking place right now and I can see the success in the future, and I have such a optimistic view of the Virgin Islands.”
VI economy continues to grow- Premier Wheatley
The Premier had presented a $488,699,871.00 budget for 2025 in November 2024, under the theme ‘Laying the Blocks of Success’.
“We have as was said before biggest budget, the biggest projected spending in the history of the Virgin Islands. Madam Speaker, the projected spending for 2025 is 496 million dollars,” he said during Wednesday’s sitting.
Dr Wheatley explained that in 2008, the projected expenditure was 247 million dollars, just under half of the projected spending for 2025.
“The picture of the Virgin Islands economy that has been painted is just not accurate, our economy continues to grow, the economy continues to flourish Madam Speaker.”
Prepare our people to seize opportunities- Premier Wheatley
The Premier continued that the economy is not a problem in the VI stating, “I guarantee you there are people making money in the Virgin Islands.”
What needs to be done, the Premier reasoned is enabling the people of the VI to seize opportunities within the economy.
“How do we use the Trade and Labour Departments to prepare our people for those business opportunities, employment opportunities? How do we build on the successes which we have had over the years? How do we ensure that we protect our environment and ensure that we don’t spend all our money on disease care and Non-Communicable Diseases?…This is the challenge before us,” Premier Wheatley said.
The VI economy is “strong” he reiterated stating, “The numbers bear it out.”
