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2025 Budget Estimates

Finance Broad
Service & Information Details Sections
Title
Theme & Strategy
Body

The 2025 budget of the Virgin Islands is themed "Laying the Blocks of Success", continuing the momentum of sustainable development under the National Sustainable Development Plan (NSDP) – Vision 2036.

Title
Economic Performance in 2024
Body

Despite global economic pressures, tourism and financial services showed resilience. Visitor arrivals increased 9.9% compared to 2023, and financial services saw 13,006 new incorporations by mid-2024, a 25.7% increase over the previous year.

Title
Revenue & Expenditure Overview
Body

Total Revenue

$410,963,200

  • Taxes: $381.8M
  • Grants: $3.2M
  • Other: $25.8M

Recurrent Expenditure

$411,729,600

  • Employee Compensation: $182.3M
  • Goods & Services: $94.5M
  • Grants: $92.9M

Capital Expenditure

$62,941,400

  • Development Projects: $54.5M

Recurrent Financing

$22,402,771

Capital Financing

$62,941,400

Includes New Loans, Development & Reserve Funds

Title
Key Sector Highlights
Body
  • Tourism: Projected revenue of $445M in 2024 with continued growth expected.
  • Financial Services: Continued reforms to ensure AML/CFT compliance and protect investor confidence.
  • Agriculture & Fisheries: Investments to improve food security and economic diversification.
  • Education: Infrastructure upgrades, new playgrounds, and expansion of STEAM programs.
  • Infrastructure: $35M allocated to roads, sewage, and water system improvements.
Title
Good Governance & Reforms
Body

Significant legislative reforms aligned with the Commission of Inquiry recommendations were implemented, strengthening transparency, public service delivery, and financial accountability.

Title
Outlook for 2025
Body

GDP is projected at $1.84B (4.6% growth). The government plans to maintain strong fiscal discipline, invest in infrastructure, enhance service delivery, and insulate residents from inflationary pressures. Key priorities include economic resilience, digital transformation, and education reform.

Contact Information

Ministry of Finance -

Ministry of Finance -

Rita Frett Georges Building
Road Town, Tortola
Virgin Islands (British) VG1110
Tel: 284 468- 2144
Email: finance@gov.vg