HOR Motions 05.12.22 – Grenada Parliament

Motions:

(a) By the Minister for Finance:

WHEREAS it is necessary to provide for the services of the State of Grenada for the Year 2023 by means of an Appropriation Act;

BE IT RESOLVED that the Estimates of Revenue and Expenditure for the Fiscal Year January 1^st to December 31^st, 2023 be approved.

(b) By the Leader of Government’s Business:

RESOLUTION FOR THE PURPOSES OF SECTION 56 OF THE PUBLIC FINANCE MANAGEMENT ACT NO. 17 OF 2015

WHEREAS section 56 (1) of the Public Finance Management Act No. 17 of 2015 (hereinafter referred to as “the Act”) provides inter alia that no money shall be raised on the credit of the Government of Grenada except under the authority of this Act or under an Act of Parliament or a Resolution of the House of Representatives;

WHEREAS section 56 (2) of the Act provides inter alia that the Minister of Finance may borrow when authorised by Resolution of the House of Representatives money on behalf of the Government of Grenada in any form and from any legitimate source on terms and conditions to be agreed with the creditor;

WHEREAS it is further provided that the amount shall not exceed in the aggregate the sum specified in the Resolution;

AND WHEREAS it is expedient that the Minister of Finance be authorised by a Resolution of the House of Representatives to borrow on behalf of the Government of Grenada, money to an amount not exceeding in the aggregate the sum of Three Hundred and Fifty Million Eastern Caribbean Dollars (EC$350,000,000.00) to meet current expenditure requirements;

NOW THEREFORE BE IT RESOLVED that the House of Representatives hereby authorises the Minister of Finance to borrow on behalf of the Government of Grenada money to an amount not exceeding in the aggregate the sum of Three Hundred and Fifty Million Eastern Caribbean Dollars (EC$350,000,000.00) for the period January 1st to December 31st, 2023.