Responsibilities

The Ministry of Finance has responsibility for ensuring that the public finances are maintained in a satisfactory condition and for monitoring fiscal and economic performance. The work of the Ministry is pursued partly through its oversight responsibility for resource allocation in the budget (capital and recurrent) for implementation of the work programmes of individual Ministries. In addition, the Ministry of Finance and Planning undertakes a variety of functions directly and these may be categorized into two (2) broad areas namely administrative or statutory and strategic

Administrative or Statutory

  • To receive, secure and account for all disbursements of public funds in accordance with Chapter 5 of the Commonwealth of Dominica Constitution order 1978, the Financial Administration Act #4 of 1994, Financial Regulations SRO 37 of 1976, Financial (Stores) Regulations #23 of 1980;
  • Release of funds to Ministries/Departments in accordance with parliamentary allocations;
  • Issuance of a variety of licenses and permits;
  • Administration of legislation pertaining to the financial sector;
  • Determination of the format for presenting the annual estimates of revenue and expenditures.

Strategic

  • Preparation of development plans, strategies and projects;
  • Monitoring of economic performance;
  • Preparation of economic forecasts and analytical reports;
  • Providing advice to Government on economic and financial matters;
  • Charting the direction of macroeconomic policy;
  • Preparation of the annual budget for approval by Parliament.