St. Kitts and Nevis’ Fiscal House is Robustly Strong, Says Prime Minister and Minister of Finance

Basseterre, St. Kitts, May 29, 2019 (SKNIS): Prime Minister and Minister of Finance, Dr. the Honourable Timothy Harris, said that St. Kitts and Nevis’ fiscal house is well in order and is expected to further improve in 2019.

This was revealed during the prime minister’s monthly press conference on Wednesday, May 20, at Parliamentary Lounge at Government Headquarters.

“My fellow citizens and residents, you will be pleased to learn that the prudent fiscal management of the affairs of the Federation of St. Kitts and Nevis that has been the hallmark of our Team Unity administration continues,” said Prime Minister Harris. “Our 2019 fiscal results for period January 1st to 30th April 2019, indicate that we have achieved a surplus on the recurrent account 2019; our overall balance reveals a surplus; the primary account is also showing a significant surplus and the net fiscal position is remarkably strong as at the end of April 2019. Our fiscal house then, is robustly strong and one of the best in the region.”

The Minister of Finance said that St. Kitts and Nevis is heading in the right direction.

“Based on our excellent performance to date, the revenue and grants target for 2019 seems very much realizable…Our projections so far have proven to be conservative and realistic. Very significantly, we are likely to surpass our best estimates of revenue for 2019 should the positive returns continue apace,” he said.

Dr. Harris urged all taxpayers to make sure that their payments are up-to-date.

“There is no room for complacency, and we urge those who owe taxes of any type to pay them promptly. Our excellent expenditure management has kept actual total expenditure close to budget target that is just over 200 plus million dollars,” said Prime Minister Harris. “Our healthy and growing economy is producing record revenues at levels to cover our expenses and produce savings for a rainy day and for our legacy projects like the Unity Bridge connecting St. Kitts and Nevis.”

Prime Minister Harris used the occasion to commend the support staff in the Ministry of Finance, adding that the government “certainly appreciate the good efforts of all public servants.”

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