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Grenada has presented its largest budget to date. The 2026 budget comes in at EC$1,960,013,910, a EC$47,141,896 increase compared to the 2025 budget.
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The budget is fully financed, despite a projected deficit of EC$309.8 million, which will be covered primarily through government deposits and limited domestic and external financing.
Finance Minister Dennis Cornwall framed the budget within Grenada’s current economic and social climate.
“By grounding our plans in these realities, we ensure that our strategies are not only ambitious but also practical, resilient, and responsive to the needs of all Grenadians,” he said.
He also described the moment as deeply personal, calling it a budget built on belief in the people.
“Mr Speaker, this 4th budget of our tenure sets the stage for the next phase of national transformation. It is more than a financial plan. It is a statement of faith; faith in the creativity and capacity of our people, faith in our collective potential, and faith in the divine guidance that continues to steer our nation through challenge and change,” Cornwall said in the Lower House on Monday, 1 December.
“It reminds us that real progress is never imposed from the top down; it is powered by the active participation, innovation, and perseverance of our people — the true drivers of national transformation,” he added.
Cornwall told Parliament that the government’s fourth budget deepens its national transformation agenda and consolidates progress made over the last three and a half years.
2026 Budget Summary
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Recurrent Revenue: EC$1.3 billion
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Grants: EC$37.6 million
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Recurrent Expenditure: EC$1.1 billion
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Strategic Initiatives: EC$206.7 million
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Capital Expenditure: EC$370.4 million
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Current Account Surplus: EC$229.8 million
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Principal Repayments (Amortisation): EC$313.2 million
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Primary Deficit (after grants): (EC$229.2 million)
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Overall Deficit (after grants): (EC$309.8 million)
Cornwall highlighted plans for advancing hydrocarbon development in 2026 through the Technical Working Group.
“Sharing details about the potential of the oil and gas sector, Cornwall said that in 2026, the Technical Working Group will focus on completing the technical and economic evaluation of Grenada’s basin, updating the legal, regulatory, and fiscal frameworks, and establishing a dedicated regulatory body to oversee this sector.”
He added that work will also continue across environmental reviews and maritime borders.
“Work will also continue on conducting a comprehensive Environmental and Social Impact Assessment, advancing maritime boundary discussions with Venezuela and Saint Vincent and the Grenadines, and promoting Grenada’s hydrocarbon potential to attract credible investors, with the aim of finalising exploration agreements within the next 12 months,” he said.
“Through these efforts, Grenada is laying the groundwork for the responsible, transparent and sustainable development of its hydrocarbon resources, creating new opportunities for economic growth, employment and national development.”
Among the new plans funded in the 2026 budget are:
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A dedicated regulatory body for the oil and gas sector
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A EC$50 million Housing Fund
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The Youth Empowerment Agency
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Green points for organic waste collection and processing
The 2026 budget was delivered under the theme: “Towards Vision 75: Powering Progress Through People’s Participation and Innovation”
Cornwall said the theme reflects Grenada’s broader national goals.
“It reflects our shared aspiration to build a Grenada that is not only economically stronger, but socially just, environmentally resilient, and guided by the enduring principles of inclusion, participation, and innovation,” he stated.
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