ST. KITTS AND NEVIS’ ECONOMY CONTINUES TO PERFORM EXCEPTIONALLY WELL UNDER A TEAM UNITY ADMINISTRATION

BASSETERRE, St. Kitts, October 4, 2018 (Press Unit in the Office of the Prime Minister) – For the first seven months of 2018, the fiscal operations of the Government of St. Kitts and Nevis have resulted in surpluses far in excess of the out-turns for the comparative period in 2017, and according to Prime Minister Dr. the Honourable Timothy Harris, this is as a result of the strong and prudent fiscal management of the country’s resources exercised by his Team Unity-led Administration.

While addressing the nation at his press conference earlier today (Thursday, October 4), Prime Minister Harris, who is the Minister of Finance in the Government of St. Kitts and Nevis, revealed that the fiscal accounts as at the end of July 2018 reflected a surplus on the recurrent account, the overall account and the primary account, which are generally used to evaluate the fiscal health of a country.

“These surpluses on recurrent account, and the overall balance and the primary balance are far in excess of our 2018 budget estimates by 115 percent, 243 percent and 116 percent respectively. Compared then to the situation in 2017 on all critical fiscal accounts – recurrent, overall and primary – we have outperformed ourselves and our expectations,” the prime minister said, while noting that the country’s net fiscal position “speaks eloquently to the astute management of our fiscal affairs by the Ministry of Finance in particular and the broader Cabinet and government in general.”

It is this type of prudent fiscal management and the surpluses that arise as a result that made it possible for the Team Unity Government to undertake a number of capital projects around the island including the continued roll-out of the island main road resurfacing project, the construction of the East Line Bus Terminal at Wellington Road, resurfacing of RLB International Airport runway and taxi ways, as well as the rehabilitation of the Old Road Fisheries Complex.

Furthermore, the programmes and policies implemented under the Team Unity Administration made it possible for the Government of St. Kitts and Nevis to pay an extra month’s salary to all civil servants, pensioners, Government Auxiliary Employees (GAEs), Skills Training and Empowerment Programme (STEP) Employees and workers at all statutory corporations in two consecutive years.

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