| |
Contact:
Earl
Bousquet
Monday, March 07, 2005 - The Government of St. Lucia has commenced
discussions on the Budget for the financial year 2005-2006. That’s the word from
the Office of the Prime Minister.
The discussions, which commenced a fortnight ago, continued on Friday, March 4
with Cabinet Ministers and senior Government officials involved in the budgetary
process.
The current discussions on the Estimates of Revenue and Expenditure are taking
place against the background of the St. Lucia economy having grown by 3.5% in
2004, following a growth rate of 3.71% in 2003.
The discussions are also taking place against the background of rising fuel
prices. On March 3, 2005, the price of fuel on the international market reached
a record high of US $53 per barrel.
The rising cost of fuel on the world market continues to be a matter of very
serious concern for the Government, which has frequently warned about the
consequences and implications for small economies in the world, including those
of St. Lucia and other Caribbean states.
|
