Prime Minister warns of economic problems for St. Lucia

CASTRIES, St. Lucia, Jan 4, CMC - Prime Minister Dr. Kenny Anthony says St. Lucia has the largest fiscal deficit in the Caribbean as he prepares to address the nation on Sunday on the economic challenges facing the island. "Where as other Caribbean states might have a fiscal deficit of seven to eight per cent of GDP (Gross Domestic Product), we are climbing up to 10 per cent. That’s a warning sign so we have really got to ensure that we bring it under some degree of control, and resolve those differences. “So when you see for example I plead for understanding from our public service unions and others engaged in the negotiations, it precisely for that reason because we need to restore St. Lucia's financial standing,” Anthony told a government housing development ceremony.