BASSETERRE, ST. KITTS, MARCH 27TH 2013 (CUOPM) – Tuesday 9th April 2013 is Budget Day in the Federation of St. Kitts and Nevis.
Clerk of the St. Kitts and Nevis National Assembly, Mr. Jose Lloyd in a notice to lawmakers said the Budget Session of the lawmaking body will begin at 10 ‘o’ clock.
Prime Minister and Minister of Finance, the Right Hon. Dr. Denzil L. Douglas will lay on the Table, the Estimates for 2013 and the Report of the Director of Audit for 2011, before introducing the Appropriation Act, 2013.
In his Budget Address, Prime Minister Douglas will look at the international and regional financial and economic developments as well as the domestic economy with attention to output, prices and balance of payments.
The St. Kitts and Nevis Minister of Finance will also look at the tourism, agricultural, information technology, telecommunications, financial and other sectors and review the fiscal climate and prospects.
The Appropriation Act 2013 provides for the services of St. Kitts and Nevis for the financial year from January 1st 2013 to December 31st 2013.
Debate on the 2013 Budget is expected to begin on Wednesday 10th April 2013.
Originally set for 11th December 2012, the presentation of the Budget Day was postponed after two then members of the Cabinet did not attend two cabinet meetings at which the 2013 Budget was discussed and that the unanimous participation of all members of Cabinet to ensure that this vital legislative initiative, on which so much and so many in the nation depend, does indeed become law.
In announcing the postponement, Prime Minister Douglas promised completely tax-free budget.
He said also it would have projected an early return to economic growth and it would have reported a reduction in debt to GDP to well under 100%, surpluses in all categories of the Fiscal Account, and the elucidation of a comprehensive development strategy that would dramatically enhance the capacity of the economy to achieve sustainable growth over the medium-term.
Dr. Douglas also said it would also have created a multiplicity of employment and entrepreneurial opportunities, and takes the federation closer to the realisation of a more advanced society replete with opportunities for citizens and residents to achieve even their most ambitious goals through continued creativity and commitment.