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Prime Minister King presents 2011/2012 budget address on April 14

Contact:  Darnley Lebourne

Tuesday, April 12, 2011 - The Government is pleased to announce that the 2011/2012 Budget Address will be delivered by the Honourable Stephenson King Prime Minister and Minister for Finance, Economic Affairs and National Development, on Thursday April 14th 2011.

The address will be presented against a backdrop of a very challenging fiscal year 2010/2011. While the global economy is recovering from the worst financial and economic crisis, many countries are struggling to deal with increases in debt and financial instability.

In Saint Lucia, the global realities were further compounded by a drought in the first quarter of 2010, followed by a devastating hurricane causing damage and losses amounting to 34% of the country’s GDP. Notwithstanding these difficulties, sound economic management, timely and targeted interventions and prudent fiscal measures by the Government have bolstered our economy leading to positive growth.

The Government has had to exert tremendous effort and resources to respond to the rising scourge of crime. Government is cognizant of the impact of crime on society and has accorded combating crime the highest priority. This year’s budget, therefore, reflects the commitment of Government to implementing a comprehensive multi-pronged programme of crime prevention.

A country’s quest for sustainable economic growth must be viewed within a context of environmental, social, human and resource considerations. As such the budget, will be a reflection of Government’s understanding and commitment to the holistic development of its people.

The 2011/2012 Budget represents an increase on last year’s budget given the imperative of ensuring a secure and safe society and the post Hurricane Tomas recovery and reconstruction commitments. The Budget address will be followed by debates in Parliament in the week beginning April 18th.

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