budget statement 2012.indd - Grenada Customs & Excise Division

istration assumed office in July 2008. These numbers also show,
Mr. Speaker, that between the time that the NNP Administration left
office in July 2008 and the end of December 2011, the net increase in
the number of workers in the Public Service - including established,
unestablished and contract workers under the 340 budget line, is 174.
Mr. Speaker, in the face of these facts, the Opposition continues to
claim that we are creating jobs for the boys. In six months - the 6
months leading up to the 2008 elections - the NNP administration
increased the size of the Public Service by 352. In 3 years and 8
months, the NDC administration increased the size of the Public
Service by 174. The question must therefore be answered: who was
creating jobs for the boys?
These facts, Mr. Speaker, should put an end to this mischief once and
for all.
Central Government Debt
At the end of December 2011, Central Government Debt stood at
$1.98 billion consisting of:
Domestic Debt - $360.8 million
External Debt - $1.5 billion
Government Guarantees - $120 million
Grenada’s debt to GDP ratio is now 88.6 percent. Government will
continue to pursue prudent debt management in the quest for fiscal
and debt sustainability.
3.3 Grenada’s Debt to EXIM Taiwan
Mr. Speaker, I now wish to address the debt owed to Export-Import
Bank of Taiwan (EXIM Bank of Taiwan).
Grenada has four loans with the EXIM Bank of Taiwan contracted
as follows:
US$10 million – July 1990
US$2 million – April 1997
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2012 Budget Statement