Basseterre, St. Kitts, July 17TH 2007 (CUOPM)
St. Kitts and Nevis recorded increased economic activity for the first quarter of 2007. The Cabinet, during its meeting on Monday under the chairmanship of Prime Minister and Minister of Finance, Hon. Dr. Denzil L. Douglas expressed pleasure at the positive direction of the growth of the national economy and the improvement in the government’s fiscal position.
Financial Secretary, Mrs. Janet Harris and Permanent Secretary in the Ministry of Sustainable Development, Mrs. Hilary Hazel in a comprehensive report on the economic and fiscal situation told Cabinet that the growth was attributed to activity in agriculture, construction, the distributive trade, banking, wholesale, retail and government services.
“The current account balance recorded a surplus of EC$5.8 million, and the overall balance and primary balance recorded growth rates of 100.3 percent and 101.2 percent respectively. The primary balance exhibited a surplus of $22.1 million,” Minister of State in the Ministry of Finance, Sustainable Development, Information and Technology, Sen. the Hon. Nigel Carty.