FAQ’S

The Fiscal Resilience Oversight Committee (FROC) comprises five (5) members who are appointed by the Governor General upon the nomination of the Committee of Privileges of Parliament. Four (4) of the members are nominated in consultation with the Director of Audit, while the fifth member is nominated on the advice of the Governor of the Eastern Caribbean Central Bank (ECCB).

The FRA aims to guide fiscal policy in Grenada to ensure long-term sustainability, fiscal transparency, and accountability. It helps anchor government finances throughout the budgetary process and provides flexibility to manage economic shocks.

The FRA became effective on January 1, 2024, replacing the Fiscal Responsibility Act of 2015.

The FROC monitors compliance with the FRA and is mandated to prepare:

• An Annual Report by March 31.
• A statement on the Supplementary Appropriation Bill within two weeks of its parliamentary approval.
• A report on the Medium-term Fiscal Framework within two weeks of submission to the Ministry of Finance

FROC publications, including annual reports, compliance statements, and other documents, are available on the official website under the “Publications” section

To strengthen fiscal resilience through sustainable fiscal and debt strategies.

To foster a dynamic and flexible economy fueled by sustained economic growth, underpinned by prudent fiscal and debt strategies and a sound financial system