USVI governor submits budget, seeks 25 per cent deficit cut | iNFOnews | Thompson-Okanagan's News Source

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USVI governor submits budget, seeks 25 per cent deficit cut

May 28, 2016 - 1:56 PM

CHARLOTTE AMALIE, Virgin Islands - The governor of the U.S. Virgin Islands has submitted a $1.35 billion proposed budget he says aims to decrease the U.S. territory's deficit by 25 per cent.

Ken Mapp said Saturday that the budget includes $1.16 billion in local funds and nearly $194 million in federal grants.

He said the budget in part aims to reduce the island's debt service cost by more than $50 million a year. Mapp also requested $300 million worth of capital projects for the upcoming fiscal year, including the renovation of public schools.

Legislators are scheduled to debate the budget in upcoming days.

News from © The Associated Press, 2016
The Associated Press

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