Economic Planning

The Economic Planning Unit plays a pivotal role in the preparation, implementation and monitoring of the Government's Medium Term Development Strategy in keeping with the National development Plan and long-term vision and goals for St. Lucia.

What is the Medium Term Development Strategy?

The Medium Term Development Strategy, known by the acronym MTDS, is a prioritized action plan that spans a 3 or 5- year period.  It lays out the development goals and issues that GOSL believes is a priority  and it forms the basis of more effectively aligning the programs and activities to be undertaken by various ministries to the national budget.  The MTDS guides the implementation of Public Sector Investment Programme.

How do we develop the Medium Term Development Strategy?

The Economic Planning Unit conducts a detailed analysis of St. Lucia's socio-economic performance and development and prospects in order to identify the most important issues. We examine St. Lucia's challenges, constraints, strengths and opportunities in the context of regional and international trends. Most importantly there is participation and representation by the ministries, non-government agencies, businesses and individuals.

Where can I get a copy of this document?

The last MTDS to be approved by the Cabinet was done for the period 2000 to 2002. This document is available upon request from the Economic Planning Unit. However, the Unit is in the process of developing a new MTDS. This process is expected to commence in July and be completed at the end of the year.

Functions & Responsibilities of the Economic Planning Unit

 The Economic Planning Unit performs the following major duties and tasks in fulfilling its roles.

  • Engaging in discussions/consultations with key government ministries, multilateral agencies and other stakeholders.
  • Conducting a detailed analysis of St. Lucia's socio-economic performance and prospects in the context of its development objectives, in order to identify development issues.
  • Ascertaining St. Lucia's challenges, constraints, strengths and opportunities, in the context of regional and international trends and developments.
  • Formulation of national goals and objectives for the medium and long term.
  • Ensure consistency between St. Lucia's development goals and sound fiscal and macroeconomic management.
  • Develop/maintain an econometric model of the St. Lucia economy and to utilize this model in selecting priorities for the MTDS, tracking the implementation and in making modifications to the MTDS.
  • Preparation of the MTDS to include sector strategies that are in keeping with established medium to long-term goals development objectives
  •  Evaluate the impact of policies within the MTDS on national and sector specific development objectives by examining baseline data, monitoring of indicators and report on progress toward the attainment of targets as part of the monitoring framework for the MTDS.
  • Coordination and collaboration with line agencies to produce the Medium Term Development Strategy.
  • Implementation and monitoring of Institutional Framework for Performance Monitoring and Evaluation of the Medium Term Development Strategy.

Staff

Tracy Polius
Permanent Secretary
(758) 468 2810

Resources

Social and Economic Review 2010
 05.3.2011 | 8.46 MB