In 2021, most economies began to recover from the historic COVID-19 pandemic-induced contraction of
2020. The global economy recorded its strongest post-recession recovery in 80 years, with growth estimated
at 5.9 percent in 2021 from a contraction of 3.1 percent in 2020, owing to a relaxation of pandemic-related
lockdowns in several countries which boosted demand.
The 2022-23 Estimates of Revenue and Expenditure lays out the annual spending plans, projected revenue collections and programme performance information of all government departments. The Budget Estimates is structured by organizational segments namely, Department, Division, Cost Centre, Programme and Sub-programme. These segments are reflected in the schedules for Revenue (Recurrent & Capital), Operating, Non-Project Capital and Project Expenditure. A notable change in the classification is the treatment of Principal Repayments as Capital Expenditure, which is in keeping with the new Chart of Accounts.
Saint Lucia shall implement the OECS Data for Decision Making Project (the Project), with the involvement of its
Ministry for Finance, Economic Development and the Youth Economy (MoFED). The International Development
Association (hereinafter referred to as the Association), has agreed to provide financing for the Project.
The Revised Treaty of Chaguaramas establishing the Caribbean Community including the CARICOM Single Market and Economy was signed by the Heads of Government of the Caribbean Community on July 5, 2001. The Revised Treaty provides overarching justification for the establishment and implementation of a regional Public Procurement regime. In Article 239 of the Revised Treaty Member States agreed to “elaborate a Protocol relatinginter alia to government procurement”.
The Community Protocol on Public Procurement identified a number of areas where common rules, standards, norms and guidelines should be established to improve efficiency and transparency in public procurement in the Community.