 Prime Minister, Honourable Philip J. Pierre and his Cabinet of Ministers secured control of the Government of St. Lucia amidst global economic instability. Inflation reached record highs, supply chain bottlenecks spiked, consumer prices, and the economic fallout from the COVID-19 pandemic depleted government revenue. The ongoing Russian conflict in Ukraine continued to affect grain and wheat exports, which also contributes to higher retail prices of bread and other flour-based products. Domestically, St. Lucia's economy experienced the sharpest decline in the entire Latin America and Caribbean region. St. Lucia's fiscal deficit, which is an important indicator of a country's ability to serve its debt, for consecutive financial years from 2020 to 2022 mushroomed to more than 300 million EC dollars. St. Lucia's economy had already begun to show signs of downside risks before COVID. So when COVID struck, it took us overboard. But during COVID, we borrowed over $300 million, but that's $300 million, Mr. Speaker. Less than $20 million of these dollars were used for direct support to people. The direct support came from the NIC. That's when the direct support came from the NIC, Mr. Speaker, and we pledged at some point when the time is right to pay the NIC people back the money. That is where it came from, Mr. Speaker. But, Mr. Speaker, during that time, what did the government do? They were busy doing DFCs for elections. They were busy doing rules for election time, Mr. Speaker. So that $300 million that they borrowed. Because of the weakness that they called me at that time, they had to take it to pay salaries and that is what manifests itself in the figures that have been inherited. To return St. Lucia to a path of fiscal and economic stability, Prime Minister Pierre employed strategic policy measures that redirected millions of dollars back into the local economy to shield consumers from the full effects of inflation and also position the economy to experience buoyant GDP expansion in under two years. The evidence of the Prime Minister's efficient management of St. Lucia's economy can be found in the 2023-2024 estimates of revenue and expenditure. For the first time since fiscal year 2018-2019, the government of St. Lucia is projected to accrue an easy $29.6 million primary surplus. So what they inherited was a platform of sustainability, a platform that we could move on. And by 2019, before COVID, we were ready to work in deficit, current balance deficit of $43 million before COVID hit. Before COVID hit. Before COVID. That's where you. So you understand why we have problems? And right now, we've taken it from last year. We've taken it from Mr. Speaker. When we got it with last year, we had anticipated that we would have in 2022-2023. When we took it in 2021, our overall deficit was $324 million and our primary deficit was $156 million. We took it from there and we brought it into one year to have a surplus of $29 million. Since coming into office in 2021, St. Lucia has experienced consecutive years of GDP growth. Prime Minister Pierre has also successfully managed to reduce the deficit and implement policies which have inspired an increase in revenue collection for the government. From the office of the Prime Minister, Rihanna Isidore.