Government issues warning ahead of budget presentation
Apr 26, 2013
CASTRIES, St. Lucia, CMC – Prime Minister Dr. Kenny Anthony is warning of the difficult task ahead as he gets ready to present his administration’s budget statement to Parliament later on Friday. As debate on the estimates began on Thursday, Anthony, who is also finance minister, said the fiscal deficit was at least nine per cent of the gross domestic product (GDP) and noted that for the first time since the island attained political independence from Britain in 1979, the fiscal package has been reduced to reflect a serious downturn in the local economy. The 2013-14 budget amounts to EC$1.3 billion (One EC dollar= US$0.37 cents) down from the 2012 figure of EC$1.4 billion.
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