CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Fiscal Outlook Improving In St Kitts

Fiscal Outlook Improving In St Kitts

by Phillip Morton, Investors Offshore.com

21 May 2013


The International Monetary Fund (IMF) has reported that the economy and finances of Saint Kitts and Nevis have remarkably improved since the start of the year.

The IMF issued a statement following a lengthy mission to St Kitts and Nevis, concluding on May 15, 2013, that "despite a challenging economic environment, the overall fiscal position through end-March 2013 was stronger than expected due to buoyant non-tax revenue and expenditure restraint." The economy is expected to grow by two percent this year, due to an expected uptick in tourism and construction activity, and authorities have outlined plans to post a significant budgetary surplus this year as part of debt consolidation efforts.

Local authorities are targeting a budgetary surplus of 2.5 percent of gross domestic product (GDP), mainly by improving tax administration and investing in economic recovery, the IMF said.

"The 2013 fiscal framework is aligned with the authorities’ home-grown program of promoting growth by consolidating public finances and putting public debt on a sustainable path. In that area, progress continues towards completing the debt/land swap. The mission and the authorities discussed and agreed on a draft memorandum of economic and financial policies for 2013," the IMF concluded.

TAGS: environment | tax | investment | fiscal policy | law | budget | International Monetary Fund (IMF) | Saint Kitts and Nevis | construction

To see today's news, click here.

Leave a comment

Read our Posting Guidelines

 






Close

Password Reminder

Please enter your email address to receive a password reminder.

 






Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Tax-News+ Updates

Receive FREE daily updates from Tax-News.com, straight to your inbox. Register Now!

For a tailored solution, choose to receive selected news updates for your preferred jurisdictions and topics, with our enhanced Tax-News+ subscriber service. Read more...

 

Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »