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March 25, 2026

Castries, Saint Lucia 

Prime Minister Hon. Philip J. Pierre has presented clear proof that Saint Lucia’s economy in the fiscal year 2025/26 was being managed with discipline, prudence, and purpose. As the Prime Minister told Parliament, “The numbers speak for themselves,” and they do. Government kept total spending 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.

This did not happen by chance. It was driven by stronger tourism, solid construction activity, gains in agriculture, lower inflation, declining unemployment, and careful fiscal decision-making. Just as importantly, Government avoided unnecessary borrowing. 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.”

And while improving the books, the Government still delivered for people. Public servants received salary increases and bonuses, pensioners received support, public assistance was expanded, and key investments continued in health, roads, schools, security, and social care. In the Prime Minister’s words, “We put people first.”

The message is unmistakable: under Prime Minister Pierre and his Cabinet, Saint Lucia ended the Financial Year 2025/26 on a stronger footing, with surpluses up, the deficit down, and confidence growing in the Government’s management of economic affairs.