Prime Minister Presents 2011-2012 Budget Address

The Prime Minister and Minister for Finance, Economic Affairs and National Development, Honourable Stephenson King, delivered the 2011/2012 Budget Address on Thursday, April 14, 2011.

 The theme for this year's address is:

"Creating a Safe and Secure Environment and Rebuilding Communities While Transforming the Economy to Attain Sustainable Development"

The address was presented against a backdrop of a very challenging fiscal year 2010/2011 framed by a slow global economic recovery.
 In Saint Lucia, the global realities were further compounded by a drought in the first quarter of 2010, followed by a devastating hurricane causing damage and losses amounting to 34% of the country's GDP. Notwithstanding these difficulties, the economy registered positive growth of 4.4 percent.
 In presenting the Budget Address, the Prime Minister, identified the strategic priorities which underpinned this year's budget.  These include:

  1. To reduce crime and make Saint Lucia safe for everyone
  2. Reconstruction of Saint Lucia in the aftermath of Hurricane Tomas
  3. Economic Transformation through:

i.    Improving the quality of our human resource
ii.    Strengthening the economic diversification programme
iii.   Improving the competitiveness of the economy
iv.   Strengthening fiscal performance

Government has had to exert tremendous effort and resources to respond to the rising scourge of crime. Government is cognizant of the impact of crime on society and has accorded combating crime the highest priority. This year's budget, therefore, reflects the commitment of Government to implementing a comprehensive multi-pronged programme of crime prevention.
The Prime Minister highlighted Government's understanding and commitment to the holistic development of its people and notes that these are considerations in Saint Lucia's quest for sustainable economic growth. He also introduced several programmes and initiatives which are directed at engaging and empowering the youth of the nation.
The 2011/2012 Budget estimates of expenditure amounts to approximately EC$1.338 billion and represents an increase on last year's.  It reflects the imperative of ensuring a secure and safe society and the post Hurricane Tomas recovery and reconstruction commitments.

 [Download Address]