1945

Organisation of Eastern Caribbean States (OECS)

At the aggregate level the OECS economies improved their fiscal position with respect to the previous year, owing mainly to an improvement in the capital account. This resulted, in turn, from an increase in capital revenue (from EC$ 11 million in 2001 to EC$ 42 million in 2002) and, most importantly, a contraction in capital expenditure (-14%). The reduction in capital expenditure reflected the completion of investment projects and also, in some countries, low rates of implementation of public-sector investment programmes.

Related Subject(s): Economic and Social Development
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