By Laurel Theresa Bain The structure of Grenada’s economy is influenced by its historical legacy, its evolution to a politically independent state, and the policies pursued by administrations. The economic developments in Grenada are outlined in the context of the political and constitutional changes over the years. In the 1950s, Grenada was shifting away from […]
Pursuant to Section 14 (3) (b) of the Fiscal Responsibility Act (No. 29 of 2015) and Section 12 (3) (b) of the Fiscal Resilience Act (No. 11 of 2023), the Fiscal Resilience Oversight Committee (FROC), submitted, on 28th March 2024, its 2023 Annual Report to the Clerk of Parliament for onward transmission to the Honourable […]
By Laurel Theresa Bain Economic policies are aimed at improving the welfare of the population. Among the social indicators, unemployment and poverty are commonly used to monitor the welfare of the population. The Statistics Department has compiled the results of the labour-force survey as of the quarter ended 30th September 2023. Based on the labour-force […]
By Laurel Theresa Bain The 2024 national budget was presented under the theme: “Grenada at 50: Empowering our people, Transforming our nation”. There were commonalities in the 2023 and 2024 national budgets, and these common features are the empowerment of our people and transforming the economy. The priority areas identified in the 2023 national budget […]
By Laurel Theresa Bain An examination of the trends in social indicators is important for assessing the impact of public policies which are aimed at Enhancing the welfare of the population. The rates of unemployment and poverty are important indicators that should be monitored over time if public policies are to be targeted at correcting […]
By Laurel Theresa Bain Consistent with best practice, the national budget for 2024 is expected to be presented to Parliament prior to the end of the fiscal year. The Minister of Finance will present the budget statement or budget speech to Parliament which is the most visible document. However, the important documents to be presented […]
By Laurel Theresa Bain It will soon be time for the presentation of the national budget for 2024. The Minister of Finance will present to Parliament the state of the economy, the achievements of the Government in relation to the pronouncements in the 2023 national budget, and the policies, programmes, and projects for the 2024 […]
By Laurel Theresa Bain: This assessment of the state of the government finances, as of 30th June 2023, coincides with one year of the National Democratic Congress (NDC) administration assuming responsibility for economic management with the stated goal of transforming the economy to “A Sustainable, Equitable and Prosperous Grenada for All”. The Government’s strategy for […]
The ultimate role of government is to improve the welfare of the population. In doing so, the Government, through the use of fiscal policy, provides public goods and services; contributes to the achievement of growth; stabilizes the economy to avoid sharp declines in the Gross Domestic Product (GDP) and facilitates the fair distribution of national […]
