PM Pierre presents budget estimates touting prudent management

Published on March 30, 2026

Prime Minister Philip J. Pierre has presented the 2026/2027 estimates of revenue and expenditure noting that Saint Lucia’s economy is being managed with discipline, prudence, and purpose.

As the Prime Minister told Parliament, “The numbers speak for themselves” explaining that total spending was below the approved ceiling, with projected expenditure of $1.99 billion, about $70 million under budget, while domestic revenue rose to $1.63 billion, slightly above target and roughly $75 million more than the previous year.

The strongest sign of success is the Government’s surplus performance. The current surplus is projected at $243.6 million, well above the original estimate of $199.3 million.

The recurrent surplus is now expected at $114.8 million, up from the projected $65.9 million. The primary surplus is estimated at $90.1 million, far ahead of the original $34.7 million target.

At the same time, the overall fiscal deficit was reduced from a projected $202.1 million to $143.8 million. In simple terms, the Pierre Administration brought in more revenue, controlled spending, and sharply improved the country’s financial position.

Although over $257 million in loan financing had originally been proposed, only $88.8 million was drawn down because of what the Prime Minister described as the “robust performance of the economy.”