USVI governor submits budget, seeks 25 per cent deficit cut
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.
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