Budget Analysis for Investments in Children in Virgin Islands (UK) BUDGET ANALYSIS FOR INVESTMENTS IN CHILDREN IN VIRGIN ISLANDS (UK) Published by UNICEF Office for the Eastern Caribbean Area First Floor, UN House Marine Gardens, Hastings Christ Church Barbados Tel: (246) 467 6000 Fax: (246) 426 3812 Email:
[email protected] Website: www.unicef.org/easterncaribbean This Study was commissioned by the UNICEF Office for the Eastern Caribbean Area and UN Women Multi-Country Office - Caribbean The contents do not necessarily reflect the policies or views of the organizations. Authors: Zina Nimeh, Arthur Van de Meerendonk, Emma Van de Meerendonk, Valentine Perinetti Nimeh, Z., Van de Meerendonk, A, Van de Meerendonk, E. and Perinetti, V. (2016), Budget Analysis for Investments in Children in Virgin Islands (UK), UNICEF Report – Eastern Caribbean Area. All rights reserved. 2017 Budget Analysis for Investments in Children in Virgin Islands (UK) CONTENTS ACRONYMS AND ABBREVIATIONS 7 ACKNOWLEDGEMENTS 9 EXECUTIVE SUMMARY 10 Introduction 10 1 INTRODUCTION 16 1.1 Programme-based budgeting 17 1.2 Data and methodology 17 1.3 Limitations 20 1.4 Process 21 1.5 Structure of the report 22 2 ECONOMIC AND SOCIAL CONTEXT 23 2.2 Current macro-economic and fiscal environment 25 2.2.1 Population growth and structure 25 2.2.3 Inflation 28 2.2.4 Sector composition and trends in Virgin Islands (UK) 28 2.2.5 The labour market 30 2.2.6 Public finances 31 2.3 Overview of child well-being 35 2.3.1 Monetary poverty 35 2.3.2 Multidimensional poverty and the MPI 39