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Stakeholders in the island’s largest cultural showpiece will have to make do with a one point one (1.1) million dollar budget this year as they prepare to stage the 2014 carnival.

The announcement was made on Monday when the Carnival management and planning committee met with the various stakeholders to discuss how to maximize the use of the available funds.

The event has been plagued with financial constraints in the past is expected to be managed more efficiently this year with the establishment of the CPMA.

Speaking on the issue earlier today Permanent Secretary in the ministry of Creative Industries Donnovan Williams says collaboration among stakeholders is critical because of budgetary constraints.

Mr Williams notes that efforts are being made to explore options that would make the festival more self sustaining in the future. But, he says it will not happen overnight.

Carnival stakeholders have been working with the same budgetary amount of 1.1 million dollars for the past two years.
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