15 officials invited to Cabinet to discuss 2024 Budget preparation

The Cabinet invited fifteen officials to its meeting to address the issue of revenue, deficit spending and debt management, in preparation for the 2024 Budget. Eight officials were from the Ministry of Finance, three from the Inland Revenue Department, one from the Medical Benefits Scheme, three from the Antigua and Barbuda Department of Maritime Services (ADOMS), and the Minister of State in the Ministry of Finance and Corporate Governance. The primary object of the discussion was to consider options for the 2024 Budget, taking into account that tax revenue to GDP ratio stands at fifteen percent and the target of the budget officials is to raise revenue to twenty percent of GDP. The discussion revolved around items that can be zero-rated, and those imported items where the waiver of taxes is not warranted.