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Saint Lucia Economy Shows Promise

Press Release (GIS):– Policies implemented by the Government of Saint Lucia are having a positive impact on the economy.

The Caribbean Development Bank, in its 2018 Country Economic Review for Saint Lucia, reported that central government operations resulted in improved fiscal outcomes in 2018.

Preliminary estimates from the Ministry of Finance indicate that the overall balance switched to a surplus position of 0.3 percent of the Gross Domestic Product (GDP), as at September 2018, from a deficit of 0.8 percent as at the same period in 2017; while the primary surplus improved to 3.5 percent of GDP from 2.4 percent over the comparable period.

Among the factors contributing to this improved fiscal balance is the Citizenship by Investment Programme (CIP).

The CDB noted that collections from the CIP were particularly strong. September 2018 figures indicate a more than sevenfold rise to US$60.2 million from US$7 million for the same period a year earlier.

Prime Minister and Minister for Finance, Hon. Allen Chastanet said legislation will soon be introduced to govern the Economic Fund.

5 COMMENTS

  1. Congratulations. Economy is growing what can the SLP say now? So it is clear a fair increase in pay for civil servants is on the way. Congratulations once again a government formed by the people for the people.

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