PM predicts economic growth, announces new taxes

KINGSTOWN, St. Vincent, CMC – Prime Minister Dr. Ralph Gonsalves has presented Parliament with a EC$799.1 million (One EC dollar = US$0.37 cents) national budget outlining increased taxes and predicting economic growth for St. Vincent and the Grenadines in 2013. Opposition Leader Arnhim Eustace is expected to respond later on Tuesday to the fiscal package that Prime Minister Gonsalves said underscored his administration’s determination to continue the economic growth the island had been experiencing in recent times. Government had last month presented Parliament with the estimates of the fiscal package that showed a marginal increase on last year’s figures and comprise recurrent expenditure of EC$622.2 million and capital expenditure of EC$176.8 million.