The Government of Montserrat has been notified by the UK Government that it’s contribution to Montserrat’s 2021-2022 recurrent budget will be £23.6 million. This allocation will maintain the core support at the same level as the previous year (2020-2021).
Following this confirmation, Montserrat’s Premier and Minister of Finance, Hon. Joseph E. Farrell along with other Government of Montserrat officials will be engaged in further discussions with the UK Government over the next few days as they reprioritise and finalise the budget, and also sign the Memorandum of Understanding (MOU) for the one-year financial aid settlement.
Given the economic pressures being experienced globally due to the COVID-19 pandemic, Premier Farrell said he is pleased with this outcome. “The Government and people of Montserrat express gratitude to the UK Government for committing this level of financial support during what we know is an extremely difficult economic period for the UK Government. We are thankful that the UK’s support to Montserrat has not declined as a result of the financial challenges caused by the COVID-19 pandemic.”
Budget details will be presented by the Minister of Finance during the 2021-2022 Budget Address in the Legislative Assembly in May 2021. The exact date and time will be communicated to the public once finalised.