By Val Matthias. Updated 10:01 a.m., Wednesday, February 11, 2026, Atlantic Standard Time (GMT-4).
Prime Minister and Minister of Finance Dr. Godwin Friday has raised sharp concerns about contracts signed in the closing days of the 2025 election campaign, declaring that his new administration will re‑examine those agreements to ensure fairness and accountability.
Delivering his first Budget Address, Friday said his government inherited a mountain of debt and a fiscal position weakened by years of deficits. He accused the outgoing administration of rushing through deals “in the literal dying days” before the polls, leaving Vincentians to shoulder obligations that may not serve the public interest.
“The weight of this debt is no abstraction,” Prime Minister Dr Friday told Parliament. “Debt servicing now consumes nearly 40 cents of every dollar of revenue we collect. That is the reality of the hook in the gill a burden that limits our ability to repair roads, procure medicines, or fairly compensate our dedicated public servants.”
Prime Minister Dr. Friday contrasted this record with the fiscal discipline of earlier NDP governments, which managed a decade of surpluses. He pledged to restore credibility by re‑establishing a Fiscal Responsibility Framework, tightening fiscal rules, and scrutinising contracts signed under questionable circumstances.
Given these circumstances Prime Minster Dr Friday presented a EC$1.9 billion budget for 2026, assuring citizens that the plan introduces no new taxes. Instead, the government will rely on improved revenue collection, concessional financing, and targeted expenditure controls to stabilise the economy while expanding social protection and investing in resilience.
The Prime Minister said the review of pre‑election contracts is part of a broader effort to “give Vincentians the fair deal they deserve” and to ensure that public resources are directed toward national priorities rather than political expediency.
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