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Facts will always be facts – Philip J Pierre

By SLP

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(PRESS RELEASE VIA SNO) – In his contribution to the “Ides of March Estimates” the Hon Prime Minister attempted to hide the poor fiscal performance of the economy by comparing estimated budget figures with the actual figures that mirror the performance of the economy.

I will attempt once again to show the reality of the fiscal situation in Saint Lucia and the real state of the fiscal health of the island. Economies are measured by actual figures and I will demonstrate that in terms of actual figures the fiscal position of the government worsened this year.

– For year ended 2017 the Current Surplus difference between actual current revenue and expenditure was $93 Million.

– For the year ending March 2018 the Current Surplus was $62 Million

– The country did worse, the surplus was lower by an amount of $31 Million

– For year ended 2017 the Recurrent Surplus (Deficit) the difference between Recurrent revenue less Recurrent expenses these Recurrent Deficit was $32 Million

– For the year ending March 2018 the Recurrent Deficit was $61 Million

– The country did worse by $29 Million

– For the year ended 2017 the Primary Surplus or Deficit which is Total Revenue less

– Total Expenditure leaving out interest and sometimes called the fiscal effort of the government is another significant measure.

– For the year ended March 2017 the Primary Surplus was $85 Million

– For the year ending March 2018 the Primary Surplus is $45 Million

– The Primary Surplus was worse by $40 Million

– The Overall Surplus (Deficit) is the difference between Total Revenue and Total Expenditure.

– For the year ending March 2017 the Total Deficit was $73 Million

– For the year ending March 2018 the Total Deficit was $116 Million

– The Total Deficit was worse by $43 Million

These figures are substantiated by the social and Economic Review Page 9 which states “despite an improvement in revenue the government fiscal situation is expected to deteriorate in 2018 with smaller current and primary surpluses”.

I hope it is not left to the trained surrogates and consultants to respond.

For reference (Estimates of Revenue and Expenditure 2018).

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3 comments

  1. Is this not the heights of ignorance of economic statistics, when those who know the subject, are well aware that FUNDAMENTALLY, all predictions of SLP or UWP government estimates will always be WRONG? All of them are. Period. Why?

    Those who know their onions are fully aware of statistical error whenever data are assembled. It is the nature of the beast.

    Therefore, it is the stupid among us who continue to make a great deal of noise about estimates. There we go. What are we working with again? Estimates. Estimates. Estimates.

    Compare that with the word 'certainty', What part of the word 'estimates' that do those who continue to swell the growing ranks of the ignoramus in our society, do NOT as yet understand?

    (0)(1)
  2. That's right facts are facts no matter how much spin they try to put on it. If the numbers don't add up they just don't add up.

    (2)(4)
    • So are we saying that the cdb, the same body that Pierre and SLP have relied on to tell them when there is economic growth when they were in power, is misleading us by saying that the economy grew by 3%, because they have some allegiance to uwp. Fact are facts but it is always better to get it from someone other than those who benefit or be blamed for it, so in this case i will go with the cdb. If it was reported that the economy contracted by 3%, Pierre would have welcomed the data, but growth by 3% , something that has not happened in years, is obviously not good news for the opposition, so Pierre has no choice but to be a politician, but that does not mean we have to be dumb

      (4)(2)

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