St. Kitts – Nevis Records Another Excellent Fiscal Performance

Minister Harris Speaking About The Economy

Minister Harris Speaking About The Economy

Basseterre, St. Kitts – Nevis
January 20, 2009

A report, issued by the Fiscal Division of the Ministry of Finance concerning the outcomes of the Government’s financial programme, has indicated that, “For the period January to November 2009, fiscal surpluses were recorded for the Recurrent Account, Overall and Primary Balances. These surpluses performed above what was expected for the period and surpassed the results of the previous year’s period.”

Further, the report went on to state that “A Recurrent Account surplus of $10.3 m was achieved for the period January to November 2009, as Recurrent Revenue of $395.7m exceeded Recurrent Expenditure of $385.4 m. This surplus surpassed the expected amount by $4.3 m or 71.2 % and the corresponding period in 2008 by $23.5 m or 177.8%.”

Dated January 2010, the report also spoke to the positive result of the Overall Balance for the first eleven months of 2009, which “amounted to $42.9 m, exceeding expectations by $18.3 m or 74.5% and the previous year’s surplus of $7.0 m by $35.9 m or 509.1%.” 

In reference to the outcome of the Primary Balance, the report indicated that “The Primary Balance, which totalled $140.6 m, also reflected improved performances for the period. A positive variance of $0.8 m or 0.5% was exhibited when compared to the projected figure of $139.8 m. In addition, the Primary Balance Surplus grew by $32.9 m or 30.6% when compared to the corresponding period of 2008, when a surplus of $107.7 m was recorded.”

These outstanding results were also revealed at a huge Labour Party Election Campaign Rally at Warner Park on Saturday, 16th January 2010, by Dr the Hon Timothy Harris ““ Minister of Finance and Parliamentary Representative for the Electoral District of St. Christopher 7 for the past 16 years.

Dr. Harris highlighted and praised these excellent, significant and impressive performances in the fiscal operations of the Government, as being attributable, in large measure, to the competence and astuteness of the Labour Party Administration, which has clearly demonstrated that it has capable hands in serious times.

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