Last Updated on October 23, 2020, 8:24 AM AST by Anthony Morris
The Government of St. Kitts and Nevis has presented a tax-free, surplus budget, year after year since 2016.
Prime Minister Dr Hon Timothy Harris said that this is important as the budget could be viewed as a scorecard on the Fiscal health of the country.
Dr Harris stated on Leadership Matters Virtual Forum Series that they could take tremendous pride that this small country is the best managed small-island state.
He pointed towards three critical indicators which reflect the positive performance within the country and the ability of the Federation to service the debt.
These pointers are the Overall Account, Recurrent Account, and the Primary Account. All three accounts recorded surpluses.
These indicators are also reviewed closely by the World Bank, the Caribbean Development Bank, and the International Monetary Fund often.
The Prime Minister said that they had done an excellent job.
He added that when COVID-19 came in late March this year, St. Kitts and Nevis had the strongest reserve of any member state of the region.
He cited the strong stimulus-response which included relief payments of up to $1,000 from Social Security in April, May, June, and September, duty waivers on selected items, moratoriums on some mortgage payments, reductions in tax rates, and waivers in some bill payments including electricity and water.
Dr Harris stated that this is a remarkable achievement for the smallest independent state in the hemisphere. Team Unity administration addressed that, and the administration is there with them.
Prime Minister Harris also said that the Government is focused on rebuilding the economy of the country to the successful levels of pre-COVID-19.
Anthony Morris covers stories related to politics and regional developments. His in-depth reporting about governance and reforms makes him stand out in regional journalism, with a deep analysis of political trends and their impact on Caribbean communities.
