In a fiery conclusion to the parliamentary debate on St. Vincent and the Grenadines’ 2026 national budget, Prime Minister Godwin Friday launched a robust defense of his administration’s fiscal strategy while delivering a scathing critique of opposition claims. The government passed its EC$1.9 billion fiscal package without support from the three-member parliamentary opposition, simultaneously approving EC$200 million in domestic borrowing.
The opposition Unity Labour Party (ULP), led by former Prime Minister Ralph Gonsalves, had characterized the budget’s EC$105 million current account deficit as fiscally irresponsible, warning of potential regional fundraising difficulties and predicting overdraft dependence amid a looming cash crunch. The ULP suffered a decisive electoral defeat in November, retaining only one parliamentary seat.
Prime Minister Friday framed the opposition’s criticism as politically motivated fearmongering, questioning why any political faction would seemingly wish for International Monetary Fund intervention. ‘Now, no matter your politics, why would you wish that on your country? Why would you wish that on your people?’ Friday challenged lawmakers.
The Prime Minister noted a ‘rare moment of agreement’ with Opposition Leader Gonsalves regarding the deficit figures while completely rejecting the ULP’s interpretation. Friday presented historical context revealing that during the ULP’s final term, cumulative current account deficits exceeded EC$200 million, including a EC$70 million deficit in 2025 alone.
‘They cannot, on the one hand, claim that 90% of the budget is a carryover of their plans and programmes… and then, on the other hand, they deny responsibility for the fiscal position those same plans produced,’ Friday argued, characterizing the opposition’s stance as contradictory.
The Prime Minister positioned the current deficit not as governmental failure but as transparent accounting of what he termed a ‘rescue mission’ inherited from the previous administration. He emphasized that allocated funds would address longstanding social injustices while charting a sustainable economic path informed by the principles of the 1984-1989 New Democratic Party administration, which achieved the unprecedented feat of winning all parliamentary seats.
Friday concluded by reaffirming his government’s commitment to responsible economic management, stating: ‘We are charting a sustainable, forward-looking path for our country. We are not doing it on a wing and a prayer.’