ST. GEORGE’S, Grenada, March 10- Opposition Leader Emmalin Pierre has strongly criticized the government’s delayed presentation of the 2025 national budget, calling it a “deeply troubling picture” of incompetence and financial mismanagement.

Speaking in Parliament on Monday, Pierre condemned the National Democratic Congress (NDC) administration for presenting the budget almost at the end of the year’s first quarter.

“The mere fact that we are debating the 2025 budget almost at the end of the first quarter of 2025 is, in itself, a reflection of incompetence,” Pierre charged. “This is not a political issue; it is a matter of governance, efficiency, and national stability.”

She dismissed the government’s justification that the delay was due to Hurricane Beryl’s impact, arguing that while the storm caused damages amounting to 16.5% of GDP, Grenada received a swift payout of $118 million from the Caribbean Catastrophic Risk Insurance Facility (CCRIF) to aid recovery efforts.

Pierre also pointed to what she described as a dramatic decline in economic growth since the NDC came to power in 2022.

Citing International Monetary Fund (IMF) data, she noted that Grenada’s growth rate has fallen from 6.4% in 2022 to a projected 3.9% in 2025.

“The figures presented do not merely represent cold numbers; they embody decisions that affect every aspect of our lives,” she said.

Pierre accused the Dickon Mitchell administration of extravagant expenditures while failing to secure significant new investment projects despite record revenues from the Citizenship by Investment (CBI) program.
“This government, upon taking the reins of power in 2022, inherited a ‘pregnant’ treasury boasting over $500 million in reserves,” Pierre argued. “Yet, despite generating over a billion dollars in passport revenues, we have not secured one new investment project for our country.”

She highlighted the government’s increased spending on international travel, drone shows, and entertainment events while running a budget deficit of $337 million.

“The drone shows, the fireworks, the gala, the traveling with a large delegation—it continues to the extent that the Government has budgeted almost 100% more for international travel in 2025 than in 2024.”

Pierre also took issue with the government’s decision to fund the budget through borrowing, pointing to the $825 million loan appropriation bill tabled in Parliament.

“Mr. Speaker, this loan represents 51.5% of total expenditure. This means that over half of our budgeted expenses, including day-to-day operational costs, would be financed through loans!” she exclaimed. “It is akin to taking out a loan to pay your water bill at home!”

She warned that this level of borrowing would push Grenada’s national debt dangerously close to $3 billion, a 43% increase in less than three years.

“This is not just borrowing; it is an invitation to financial instability that will burden our citizens for generations to come,” Pierre declared.