Gov’t allocates $200m for productive sector

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TWO HUNDRED MILLION PLUS FOR PRODUCTIVE SECTOR

The Government has allocated a total of SB$209.8 million in the 2021 budget to boost the productive sector ministries.

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This allocation, according to the Minister of Finance and Treasury Harry Kuma is necessary to support the government’s economic recovery initiatives, stimulate growth and create investment opportunities.

Of the total budgetary allocation, the Ministry of Agriculture and Livestock will spend SB$25 million on Agriculture Investments while the Ministry of Commerce will also spend SB$25 million on Commerce and trade investments.

The Ministry of Communication and Aviation will spend SB$24.8 million on Communication and Aviation investments while the Ministry of Fisheries and Marine Resources will spend SB$15 million on its work programmes.

Similarly, the Ministry of Lands, Housing and Survey has been allocated SB$10 million for its programmes while another SB$10 has been allocated for the Ministry of Tourism and Culture.

Meanwhile, the Government has allocated a total of SB$100 million for Infrastructure Developments.

Minister Kuma said quality infrastructure development is important for faster economic growth and alleviation of poverty in the country.

“Adequate infrastructure in the form of roads, transport system, ports, power, airports and their efficient working is also needed for the integration of the economy with other economies of the world,” Kuma said.

ENDS///

  • Government Communications Unit

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