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St Lucia budget statement today


CMC

St Lucia budget statement today

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CASTRIES – Prime Minister Allen Chastanet will on Tuesday outline the fiscal policies of his administration for the 2018-19 period in an address his office says is aimed at building a resilient St Lucia and setting the island on the path to sustainable growth. 

According to the statement from the Office of the Prime Minister, Chastanet will review the progress made by his government last year, especially as it relates to alleviating poverty and improving and building resilient industries.

It said he would also continue to expound on the key areas of focus for the government which includes creating sustainable employment, improving justice and security and re-engineering social services.

Chastanet, who is also the Finance, Economic Growth, Job Creation, External Affairs and the Public Service Minister, presents the EC$1.4 billion budget statement, a few days after the debate on the Estimates of Revenue and Expenditure ended in the Parliament late last month.

“The public will be updated on Government’s policy direction and sustainable programmes for the year ahead and on how Saint Lucia is being placed in a position to adapt, recover and succeed,” the statement noted.

Last year, Chastanet presented an EC$1.5 billion package in his first ever budget to Parliament with a promise to pursue an aggressive pro-growth strategy, so as to return confidence and prosperity to the country.

He said then that tackling the national debt which stood at EC$3.2 billion would be a priority for his administration as for far too long successive governments have only paid lip service and allowed the problem to get worse.

“This government will not let another term go by with no decisive action. To do so would be to undermine our fiscal reform effort, and to jeopardise the potential that this country has, to enter into a new era of sustained higher economic growth. We owe this to future generations and we must tackle it now.” (CMC)

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