PM Douglas expected to present EC$470 million Budget for 2014 in Parliament

BASSETERRE, ST. KITTS, DECEMBER 9TH 2013 (CUOPM) – St. Kitts and Nevis’ Prime Minister the Rt. Hon. Dr. Denzil L. Douglas will Tuesday 10th December present a near EC$470 million budget to Parliament for the financial year 2014.

In his capacity as Minister of Finance, the St. Kitts and Nevis leader will lay on the table the Draft Estimates for 2014 in the sum of EC469 million, 940 thousand and 993 dollars.

Upon the second reading of the Appropriation (2014) Bill, 2013, Dr. Douglas will present the Budget Address which will look at international and regional financial and economic developments as well as the domestic economy with attention to output, prices, the balance of payments and the national debt.

The St. Kitts and Nevis Minister of Finance will also look at the tourism, industrial and enterprise development, agricultural, information technology, telecommunications and the financial sector with special attention to the commercial banks, the development bank, financial services and the Eastern Caribbean Currency Union.

In reviewing the fiscal sector, the Minister of Finance will provide details on the fiscal climate and prospects.

Finance Minister Douglas will also inform parliamentarians and the nation of the allocation to the ministries including tourism, sports, culture, finance, public works, education, youth, labour, information and technology.

The Appropriation Act 2014 provides for the services of St. Kitts and Nevis for the financial year from January 1st 2014 to December 31st 2014.

Debate on the 2014 Budget is expected to begin on Wednesday 11th December 2013.

In preparation for the Budget, the annual consultations with economic and social partners were held.

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