- Revenue collection is up by $ 25 million compared to last year through December
- Overall spending not related to debt redemption is down by $ 67 million compared to last year through December.
- The full GFS deficit position has improved by $ 92.3 million when compared to last year.
- This has occurred while still paying off tens of millions of dollars in bills left by the former administration
Mr. Speaker,
Clearly, the fiscal situation has improved and continues to improve. However, ongoing dedication and vigilance are warranted for the remainder of the fiscal year to enable the government to achieve the desired level of fiscal consolidation. We shall have to maintain expenditure restraint. We shall have to maximize our revenue yield.
Thus, we must remain faithful to the various restraint measures and initiatives, that were summarily set out in the May Budget and that are critical to this task. And this we shall do.
Thank you.
Page 10 of 10