Introduction
In accordance with the Fiscal Resilience Act, the Fiscal Resilience Oversight Committee (FROC) submitted the FROC 2025 Annual Report and a summarised version of the Annual Report (The FROC 2025 Annual Report At A Glance) to the Clerk of Parliament on 13 March 2026 for onward submission to the Honourable Leo Cato, Speaker of the House of Representatives and Chairman of the Committee of Privileges for the consideration of the House of Representatives.
On 19 and 20 March 2026, the reports were distributed to the public, and the Press Briefing was convened on 26 March 2026.
Questions during the Press Briefing
The following are the questions and the responses to the questions that were raised during the Press Briefing.
ECONOMIC GROWTH, WAGES AND EMPLOYMENT
- Economic Growth
The Question
Is the growth in the economy filtering down?
Response
Economic growth is accompanied with increased national income. FROC did not assess the distribution of the income associated with economic growth. The economic concept used to determine the distribution of national income is the Gini Coefficient; and this is research that could be undertaken by the Ministry and/or private individuals and institutions.
- Unemployment
The Question
Whether the reduction in unemployment captures the underemployed and part-time workers, and whether increased employment is reflected in the productive sectors.
Response
The FROC examined the trend in the unemployment rate based on the categories of unemployment by age and noted the decline in unemployment among youth. The FROC did not investigate the sectors that benefited from the reduction in unemployment and indicated that there is a standard definition for the labour-force and the unemployed.
- The wage bill
The Question
Could the wage bill increase with the growth in GDP?
Response
The wage bill could increase with the growth in GDP, as the wage bill cap is as a percentage of GDP. However, there are other factors to be considered in determining the wage bill, including the rate of inflation and productivity.
FISCAL AND DEBT STABILITY
- Economic Buffer
The Question
Is there any buffer for the economy during the economic shock?
Response
The best approach for providing a buffer to the economy is to maintain low rates of unemployment and poverty so that the population could withstand shocks. Notwithstanding, there are reserves to buffer the economy. In 2023 and 2024, there were substantial budget surplus resulting in the further accumulation of reserves. A portion of the reserves was used to finance the deficit in 2025 and will contribute to financing the projected deficit for 2026. However, inclusive of the deposits in the Contingency Fund at the Eastern Caribbean Central Bank, there are adequate reserves in the financial system to buffer the economy during temporary shocks.
Contact Information
The Fiscal Resilience Oversight Committee (FROC) will readily respond to queries related to the Fiscal Resilience Act and the functioning of the FROC which are submitted via email at [email protected]. Access information on the Fiscal Resilience Act and the Fiscal
Resilience Oversight Committee on the FROC website. Follow the FROC on its Facebook and LinkedIn pages and/or visit the FROC office at the Kirani James Athletics Stadium.
Laurel Bain, Chairwoman, Fiscal Resilience Oversight Committee
20 April 2026
