Territorial Council debated the 2021 budget on Monday.
MARIGOT–On Monday, the Territorial Council approved and adopted the Collectivité’s 200-million-euro budget for 2021 during a plenary session. It was voted through by the majority with two abstentions and two votes against.
The budget is composed of the operating section for revenues and expenditures at 136.6 million euros (down by 12.4 per cent compared to 2020) and 63.50 million euros towards investment (down by 1.7 per cent compared to 2020).
Due to the social, economic and health crisis from coronavirus COVID-19, tax revenues showed a shortage of 15 million euros.
President Daniel Gibbs said the budget of 200 million euros was important on the scale of the territory and represents a third of gross domestic product (GDP).
“It embodies the rise in power and competence of our administration and is a continuation of our recovery efforts since 2017,” he said of the budget. “In concrete terms, this 2021 budget will finance a number of important projects, our two colleges, the continuation of road works, the renovation of the waterfront, the improvement of video protection, the Nautical Centre and so many other structuring projects.
“Secondly, this budget is a budget of common sense because we are setting priorities and we want, above all, to invest in the future of the people of St. Martin and especially the youth of the Territory. We want to ensure serious, realistic and solid management – no budgetary austerity, no erratic spending.
“And by securing our legal processes, especially in terms of public contracts, we want to spend ‘better’ and be able to invest more, for everyday equipment, for embellishment of our territory, for protection of the most vulnerable, and to improve living conditions in St. Martin.”
Source: The Daily Herald https://www.thedailyherald.sx/islands/territorial-council-approves-collectivite-s-2021-budget