Gumbs sets four Finance Ministry priorities for 2027
Finance Minister Marinka Gumbs told Parliament the 2027 agenda includes tax reform, stronger budget monitoring and financial controls.
Finance Minister Marinka Gumbs told Parliament on Tuesday 3 November that the Ministry of Finance will focus on four policy areas in 2027: modernising tax administration, improving budget preparation and monitoring, strengthening financial management and internal controls, and advancing tax reform.
During debate on the draft 2027 National Budget, Gumbs said the Ministry expects about 134 full-time equivalent employees at the start of 2027, although the budget provides for 163 posts and its formal structure has 214 positions. She said limited staffing capacity is the Ministry's principal operational constraint.
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Gumbs said the tax administration plan includes compliance monitoring, taxpayer-registration improvements, a business taxpayer portal, standardised payment processing and dashboards tracking filing, payments, arrears and collections. The Ministry also plans to simplify filing requirements for qualifying senior citizens whose only income is an AOV pension.
The Ministry intends to implement Article 44 of the National Accountability Ordinance, which requires three budget-execution reports to Parliament each year, Gumbs said. She also cited earlier budget planning, clearer deadlines and coordination among ministries as part of the planned budget process.
About Cg 3.6 million is linked to improving financial administration and internal controls, including Cg 1.5 million in capital investment and Cg 2.1 million in operational spending, according to Gumbs. The work includes financial processes and the rollout of the government's enterprise resource planning system.
Gumbs said the Ministry has set aside about Cg 900,000 for tax-system reform, including about Cg 200,000 for external expertise and capacity support. The first phase includes legislation to repeal outdated tax laws and a revised General National Ordinance on National Taxes.
She also warned of risks to public finances including staffing shortages, tax-collection weaknesses, hidden financial obligations, delayed structural reforms, insufficient oversight of government-owned companies, hurricanes, external economic shocks, rising interest obligations and refinancing government loans in 2029 and 2030.
File photo: Dietmar Rabich / Wikimedia Commons · CC BY-SA 4.0 · cropped, SXM Today mark added
