Careful Fiscal Management to be Pursued – GG

Careful fiscal management, reduction of waste, more efficient delivery of public services and the shedding of unproductive areas are important elements of the strategies required to take the country forward.

This was emphasised by Governor-General, His Excellency the Most Hon. Professor Sir Kenneth Hall as he delivered the Throne Speech during the State Opening of Parliament, today (March 27), to mark the beginning of the new legislative year, which commences on April 1.

“We must be resolute in eliminating, within the shortest possible time, the persistent fiscal deficits which lead to inflation, erode confidence, drive up interest rates, and hinder investment,” Sir Kenneth said.

The Governor-General also stressed that the cost of Government must be contained.

“In this regard, the Government welcomes the constructive efforts that have been made in negotiating a new Memorandum of Understanding with public sector workers, which recognizes the need for wage increases,” Sir Kenneth said.

He noted that the Government also recognized that these increases must be calibrated within a macro-economic framework that “will facilitate growth and improved living standards.”