ST. GEORGE’S, Grenada March 8-Finance Minister Dennis Cornwall presented Grenada’s 2025 budget to Parliament on Friday, announcing a total expenditure of $1.91 billion, focusing on resilience, economic transformation, and sustainable growth. 

The Budget, which includes recurrent revenue of $1.19 billion and total grants of $72.5 million, aims to consolidate past gains while accelerating national development.  

However, Cornwall made it clear that the government will not return to full compliance with the Fiscal Resilience Act (FRA) before 2027, citing ongoing post-Hurricane Beryl recovery and reconstruction needs. 
“Mr. Speaker, this third Budget sets our country and people on a more resilient and inclusive path, consolidating past gains and accelerating progress,” Cornwall stated. 

While fiscal targets under the FRA remain suspended, Cornwall assured that the government will not breach the 13 percent of GDP wage bill ceiling in 2025.  
He emphasized that upcoming salary negotiations will be conducted in good faith to ensure compliance with the FRA beyond 2025. 

The overall deficit of $337.4 million will be covered mainly by a drawdown of $287.3 million from government deposits held in the Consolidated Fund.  
Cornwall reassured Parliament that the Budget is fully financed, with further details available in the 2025 Estimates of Revenue and Expenditure. 

The 2025 budget focuses on four key priorities: Post-Hurricane Beryl Recovery, with over $100 million allocated for cash grants, housing, and support for farmers and fisherfolk; Transformation in Key Sectors, including healthcare, housing, education, skills development, and renewable energy; Economic Expansion, aimed at diversifying Grenada’s economic base; and Cross-Sectoral Investments, targeting waste management and climate resilience to enhance national sustainability.  

Cornwall highlighted the government’s commitment to “building back better” following Hurricane Beryl, emphasizing that resilience will be at the forefront of all recovery efforts. 
“Despite the substantial progress in such a short period, Mr. Speaker, the road to full recovery is still a long and arduous one,” he said. “We remain committed to providing the necessary support for as long as is necessary to build a better and more resilient society.