St Vincent and the Grenadines government’s finances performed worse in February than they have in the last two years.
Prime Minister Ralph Gonsalves on Wednesday 16 March said revenue has been falling by EC$21 million year on year.
The Prime Minister in giving a summary of the fiscal performance of the central government for the period ending Feb. 28 said;
“We are about $10 million down, between current revenue for last year and this year. Last year up to the end of February: $96.9 million, this year: $86.8 million, up to the end of February. The month of February this year, we are essentially nearly $21 million below February last year”.
It is expected that St Vincent and the Grenadines (SVG) will experience an acceleration in growth this year, as the country continues its recovery efforts following the shocks caused by the pandemic and volcanic eruption last year.
According to the latest report on the country from Moody’s Investors Service (MIS), which notes that the expected growth will facilitate “fiscal consolidation and help to stabilise debt burden”.
The official Moody’ss website also notes that its trusted insights can help decision-makers navigate the safest path through turmoil and market volatility.
Moody’s report on this country was officially published on March 1, 2022, it affirmed SVG’s long-term B3 issuer ratings and short-term non-prime rating, and maintained a stable outlook.
