budget statement 2012.indd - Grenada Customs & Excise Division

Korea with the exploits of Janelle Redhead, Rondell Bartholomew
and Kirani James.
In the end, Kirani James ran a thrilling race, one which this Nation shall
never forget, to emerge as world champion of the Men’s 400 metres.
The words of our Prime Minister in his national address on September
08, 2011 are most inspiring and I quote:
“His brilliant performances are powerful reminders of
three important lessons:
First, that greatness can come from humble beginnings.
Second, that with hard work and tenacity, we can
accomplish our goals.
Finally, that regardless of how you start, it is important
to finish strong.
Let us embrace these lessons as we strive to build our
Nation”. End of quote.
In the arena of global advocacy, Grenada once again played a lead
role in negotiations on climate change as Chairman of the Alliance of
Small States (AOSIS) in Durban, South Africa.
Mr. Speaker, this presentation will be delivered in four parts. First,
we will set the context with an overview of the external economic
environment. Second, we will provide an account of Government’s
stewardship in the past year. Third, we will articulate Government’s
vision for transforming Grenada’s economy. Fourth, we will articulate
Government’s plans for 2012.
2.0 INTERNATIONAL AND REGIONAL DEVELOPMENTS
2.1 Recent Performance and Prospects of Global Economy
The global economic recovery has faltered. It is estimated that the
global economy grew by 3.3 percent in 2011 in contrast to 5.2 percent
the previous year.
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2012 Budget Statement