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By Vernan George – St. Kitts-Nevis Observer
Residents from across the island flocked to the Nevis Island Assembly on Tuesday, while many more tuned in via radio and online, as Premier the Honourable Mark Brantley, , Minister of Finance in the Nevis Island Administration, unveiled his government’s $284.4 million Budget for the 2026 fiscal year.
Premier Brantley reported that the new budget represents a 4% increase over the $273.2 million allocated for 2025. He noted that recurrent expenditure is projected at $203.5 million, accounting for 72% of total spending and remaining consistent with the current fiscal year’s recurrent allocation.
“Having considered the expected uptick in economic activity for the upcoming fiscal year, my administration has set its revenue budget and anticipates that it can collect the amount of $175.8 million in recurrent revenue, which will represent a modest increase of 7% when compared to the projected revenue of $164.7 million budgeted for the fiscal year 2025,” Premier Brantley said.
He added that remittances of approximately $39.8 million, when combined with projected revenues, will bring total revenue for 2026 to $215.6 million.
“When compared to the projected recurrent expenditure of $203.5 million, it provides a surplus of $12.1 million,” he stated. Capital expenditure is set at $80.9 million, reflecting a 17% increase over the 2025 allocation.
Major Allocations by Ministry
The Premier outlined how funds will be distributed across key ministries:
- Office of the Premier: $11.2 million (4%), including support for energy sustainability initiatives.
- Ministry of Finance: $128.9 million (45%), covering debt servicing obligations and financing for the airport rehabilitation and expansion project.
- Ministry of Communication and Works: $33.7 million (12%), supporting ongoing infrastructure development.
- Ministry of Agriculture: $17.7 million (6%), including funding for food sustainability, upgrading processing facilities, and Culturama activities.
- Ministry of Health, Gender Affairs and Social Empowerment: $43 million (15%), aimed at improving healthcare delivery, recruiting medical professionals, purchasing equipment, strengthening social protection programmes, and advancing the Alexandra Hospital expansion.
- Ministry of Tourism: $6.5 million (2%), for the development and maintenance of historic sites and other attractions.
- Ministry of Education, Library Services, Information Technology, Youth and Sports: $38.5 million (14%), supporting the TVET programme, youth initiatives, and upgrades to educational and sporting infrastructure.
Public Debt Update
As Minister of Finance, Premier Brantley also provided an update on the public debt.
“As it relates to the status of our public debt, the Nevis Island Administration debt portfolio as of October 31st 2025 stood at $474.7 million, representing a 1% decrease from the $479.5 million recorded on December 31st 2024,” he reported. Domestic debt accounts for 95.4% of this total, while external debt stands at $21.6 million. When combined with the debt of statutory corporations, total public sector debt amounted to $541.5 million as of October 31st 2025.
Commitment to Responsible Borrowing
The Premier assured residents that his administration will continue to exercise caution in borrowing and remain guided by the recommendations of the Director of Audit.
“The annual budgets are merely projections for revenue and expenditure. The extent to which we roll out expenditure programmes will naturally depend on our ability to access funding,” he said. “I wish to assure the public that we will not be reckless, and we will only seek to undertake projects if the funding is available or can be accessed at low cost in accordance with our debt management strategy.”
He added that any projects unable to secure concessionary financing will be deferred to 2027.
Premier Brantley concluded by reaffirming his government’s commitment to prudent financial management and sustainable development for the people of Nevis.
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