The National Newspaper of St. Vincent and the Grenadines
FRIDAY,
NOVEMBER 1, 2013
VOLUME 107, No.44
www.thevincentian.com
GOVERNMENTÊS BORROWING LIMIT INCREASED
EC$1.50
approach to finances, and been destroying the warned, “We was no question about suggested the need to gains that we made.” cannot paying the money, and manage the country’s He noted that there continue year chided the government OPPOSITION LEADER fiscal situation so that were no salary increases after year on for presenting the ARNHIM EUSTACE has current deficit is over the last two years. the same obligation “as some Leader of the supported the government- glowing achievement.” lessened. He pointed that there path.” tabled resolution He repeated the need was need to keep The Opposition Leader Opposition Arnhim Eustace led his approving the increase in Government’s to have surplus, and expenses in line and look expressed the government’s management of blamed the government’s to improve production disappointment with the opposition bench in cautious support of the borrowing limit from $35 finances having to borrow on their and revenue. “lack of impact on resolution to increase million to fifty million. (mis)management of “Let us work together banana farmers. the government’s The resolution was Eustace took issue resources. to get that settled,” tabled and approved at with the government’s For him, “we have Eustace indicated and Continued on Page 3. borrowing limit. last Tuesday’s Sitting of Parliament. Some of that increase will go towards paying Civil Servants the remaining one and half by KENVILLE HORNE Total expenditure also million to just over $12 million,” percent of a three increased from EC$128 million Gonsalves disclosed. percent wage increase PRIME MINISTER Ralph in the third quarter last year to Also at Tuesday’s sitting of granted to them since Gonsalves told parliament EC$146 million this year, while the House, amidst deep 2011. on Tuesday that the recurrent expenditure increased concerns from the opposition, As far as Eustace is Government received more from EC$118 million to EC$124 approval was granted for the concerned, by the time revenue during the third million. Capital expenditure Government of St. Vincent and the workers get the quarter of this year but climbed from EC$8 million to the Grenadines to increase the money, inflation would ended with a higher deficit, EC$22 million. borrowing limit from EC$35 have eaten most of it. compared to the same The current balance, a deficit million dollars to EC$50 The East Kingstown period of 2012. of EC$1.3 million in 2012, million. Parliamentarian stressed The Prime Mminister moved to a deficit of EC$5.4 The Prime Minister said the that the payment of the was responding to a million in 2013, while the purpose of this increase is to one and half percent was question by Opposition overall balance moved from meet the current requirements “no gift,” and that the Leader Arnhim Eustace. EC$2.6 million last year to a of the Government. “money was owed.” Dr. Gonsalves told deficit of EC$9.3 million. There was unanimous He supported the lawmakers that during the Gonsalves pointed to the 4.8 support for the motion resolution “because Civil third quarter of this year, per cent increase in recurrent regarding increasing the Servants deserve their total revenue and grants expenditure and about 170 per borrowing limit, with money.” amounted to EC$137 cent increase in the capital Opposition Leader Arnhim In answer to his own million, compared to expenditure, as the contributing Eustace explaining that he was question, “Who is going EC$124.2 million during the force to the widening of the only supporting the motion to repay it?”, Eustace same period of 2012. overall deficit. because he wanted Public answered, “The same Current revenue improved “In the recurrent Servants to get their salary taxpayers you paying by EC$2 million, moving expenditure, the items which increase. He called on the to… the same people who Prime Minister Dr. Ralph from EC$117 million in continue to show spending, Government to manage its are going to be paying Gonsalves tabled a motion to 2012 to EC$119 million in continue to show robust growth, financial affairs properly. back.” grant government increased 2013. would be the pensions, from $11 He posited that there borrowing power. by WILLIAM KOJAH ANTHONY
Increase in revenue but higher deficit