PM Douglas reiterates Federal Government’s commitment to economic recovery

BASSETERRE, ST. KITTS, APRIL 28TH 2014 (CUOPM) – The Federal Government of St. Kitts and Nevis is confident in its ability to deliver to the people of the twin-island Federation.

In a recent interview with Walter “The Chef,” Morton on Choice FM’s “Breakfast Menu,” Prime Minister Douglas alluded to the commitment of the Government of St. Kitts and Nevis to partner with all stakeholders in turning the economy around.

“I think the secret lies in the commitment of the Government of St. Kitts and Nevis to partner with the private sector – the private sector abroad, the private sector at home. Partnership between the private sector and public sector and to a large extent the confidence that has been placed in us, not only as a Federal Government, but also the confidence that has been placed in the institutions,” said Prime Minister Douglas, who thanked the International Monetary Fund (IMF).

“They sat with us in the Federal Government and working to fulfill the commitment and pursue aggressively the policies, the plans, the programmes s that we had enunciated during the period of recovery,” said Dr. Douglas, who also thanked the private sector for responding positively to the calls “for first, accepting our words that the economy is going to turn around.”

“We said to them, give us the time, give us the support and we would turn the economy around. Today I am very pleased that we are seeing really the fruits of our labour and the confidence of our people in the Labour Party Administration to look after the affairs of our country – St. Kitts and Nevis,” Prime Minister Douglas told listeners.

“Even if it is one thing the people of St. Kitts and Nevis are strongly confident about, it is that the Federal Government has the ability and the capacity to deliver, deliver to the commitment and deliver the needs to the people of St. Kitts and Nevis.

The Washington-based International Monetary Fund (IMF) recently reported that the Gross Domestic Product (GDP) is estimated to have grown by 1.7 percent in 2013 and expects growth in 2014 to accelerate to 2.5 to 3 percent in 2014 and reach its potential growth rate of about 3 to 3.5 percent.

The World Bank recently ranked St. Kitts and Nevis as the richest country in the OECS in terms of GDP per capita and the fourth richest in the Caribbean after the Bahamas with a GDP per capita of US$21,280; Puerto Rico, US$18,000, Trinidad and Tobago, US$14,400 and St. Kitts and Nevis, US$13,330.

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