Saint Lucia gov’t to pay close attention to public financial management

By GIS

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Governor General Cenac * The Saint Lucia Voice Newspaper photo

(GIS) — The government of Saint Lucia is paying close attention to public financial management with a number of initiatives, including legislative reform.

These initiatives come on the heels of the Caribbean Development Bank’s 2018 Country Economic Review, which indicated that public sector debt in Saint Lucia was estimated to be 67.8 percent of GDP at the end of 2018, down from 68.5 per cent a year earlier.

The reduction in debt was consistent with improvements in fiscal out-turns.

Governor General, HE Sir Emmanuel Neville Cenac, in delivering the Throne Speech on April 9, underscored the government’s commitment to economic governance.

Consequently, the existing Financial (Administration) Act Cap 15.01 will be repealed, and a new Public Financial Management Act introduced; a centralized internal audit function will be established, specifically with a view to protecting assets, reducing the possibility of fraud, increasing financial reliability and integrity, and ensuring compliance with applicable laws; and a Debt Management Strategy which aims to raise stable and consistent levels of financing at minimum cost, introduced.

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This article was posted in its entirety as received by stlucianewsonline.com. This media house does not correct any spelling or grammatical error within press releases and commentaries. The views expressed therein are not necessarily those of stlucianewsonline.com, its sponsors or advertisers.

3 comments

  1. Oh my god I thought retirement was at 65, I get it, I guess the government is trying to reshape Cenac legacy. It’s not working he will always be remembered as the traitor that cross the floor...and by the way it’s way pass retirement... hand the baton over to someone young and capable !

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    • Go tell it to Trump Biden etc Some of you all once a St.Lucian turn fifty they are old and ready for retirement but do you know the older ones are much smarter than you all idiots? Again we all make mistakes so if you are without sins please feel free go ahead throw the first stone sak way in wo wa

      (2)(8)
      • Middle finger !!, CHIEN !! America is always the model for you wannabees !! THEY ALL TOO OLD !! And put that in your pipe and smoke it CHIEN !! My opinion you have a problem MIDDLE FINGER !!

        (5)(1)

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