Tuesday, March 12, 2013

Nation Building 18

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3 comments:

Anonymous said...

Mr PS---Infrastructural development and structural reforms by ITS SELF WILL NOT lead to export expansion which in turn would lead to growth in the economy”

You need new streams of revenue to enter the country---foreign direct investment (FDI) and recapitalization and expansion of business and start –ups “entrepreneurs”.

In addition please advise the finance on the following:

Debt consolidation aimed at improving St.Lucia’s credit rating and reducing Saint Lucia’s interest payments of EC$140 million annually

The development of a National Investment Plan – A good start is the shelved quadrant plan

The development of a National investment policy with greater recognition of the need and benefits of foreign investment

The establishment of a National Economic Council - to access resources, build partnerships and set development goals

Down size foreign embassies and reduce transfer payments

Reduce the size of government ministers to nine (9)

15% across the board cost reduction in operational expenses in the public service in areas such as electricity, communication, transfers, procurement and outsourcing of non-core functions with the goal to reduce public expenditure and debt

30 % reduction in the Food Import bill and re-invest in the agricultural sector for food production

Also, how, on what basis and who could have made these projections-----

“The country which was targetted to register a growth rate of 3.5 percent, however, could only muster -0.6 percent. The unemployment rate was targetted to be reduced by 15 percent, give and take a little however this did not become a reality registering a 20.7 percent currently.Then there is inflation which was targetted to be at a low of 2-3 percent but now stands at 4.2 percent. The debt to GDP was targetted to be at 60 percent. It is now 80.2 percent. The overall deficit/GDP was targetted to be 3 – 5 percent however it is now-12.9 percent.”

Clearly, someone and some thing is off here! The upcoming budget will be interesting.

March 14, 2013 at 6:24 PM
Anonymous said...

Likewise—“In summarizing Saint Lucia’s fiscal position for 2012/2013, the permanent secretary said for that period total revenue and grants amounted to EC$808.4 million. Current revenue for the same period was EC$784.9 million while current expenditure was EC$831.8 million, with capital expenditure registering EC$356.4 million.”
This once again reflects that St.Lucia is NOT a billion dollar economy!!!!! And the budget should correctly reflect that. Revenue is EC$784.9 million----- expenditure was EC$831.8 million…..

The projections are unrealistic .

March 14, 2013 at 6:30 PM
Anonymous said...

“It must be noted that according to the latest Labour Market Needs Assessment for Saint Lucia, 60 percent of job seekers have education levels below secondary school, 33 percent have a secondary school education (with CXC) while seven percent have tertiary education.”

NO WONDER WE GET THE GOVERNMENT WE DESERVE--------- 60% UNEDUCATED VOTERS ELECT THE GOVERNMENT OF THE DAY EVERY 5 YEARS……….WHOOOOO

March 14, 2013 at 6:47 PM

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