PM Douglas tells nationals SIDF funds used to stimulate local economy

BASSETERRE, ST. KITTS, FEBRUARY 11TH 2014 (CUOPM) – The Government of St. Kitts and Nevis has worked exceptionally hard to put the twin-island Federation on the path of economic growth.

A section of the audience at the UVI Campus in St. Croix, United States Virgin Islands
A section of the audience at the UVI Campus in St. Croix, United States Virgin Islands

Pointing out that while the United States – the most powerful nation on earth, was able to produce 1.9 percent in economic growth in 2013, the polices and programmes of the St. Kitts-Nevis Labour Government, has produced a growth rate of 1.7% and that the European Union, comprised of most of the most highly industrialized nations on earth, produced a growth rate of zero.

A section of the audience at Victor's Hideout on St. Thomas
A section of the audience at Victor’s Hideout on St. Thomas

“Zero. In a globally unstable environment, as I’ve said, your Government worked exceptionally hard, planned extremely carefully, put in place innovative policies to protect our country, and produced an economic growth rate of 1.7%,” said Prime Minister Douglas, adding that with the traditional donor countries now struggling with their own crises, small countries have to be resilient.

He told hundreds of nationals in the British Virgin Islands and the United States Virgin Islands in separate meetings on Tortola, St. Croix and St. Thomas over the weekend that with the international economic and financial recession, government had to find a way to stabilize the local economy.

“You would have heard me stress, also, how important it is for small countries, like ours, to be able to fend for themselves and provide for themselves,” said Prime Minister Douglas.

He said that the Sugar Industry Diversification Foundation (SIDF) is doing precisely that in St. Kitts and Nevis.

“We are funding our own projects, empowering local individuals and undergirding local businesses. And with all of that, St. Kitts and Nevis is a place of new and exciting possibilities. You need to know that the SIDF has already invested more than $162 million in our own advancement as a people,” said Dr. Douglas, who invited nationals to visit

“Review the countless ways in which opportunities are being created and expanded for Kittitians and Nevisians of all persuasions and interests. Visit, I say. I guarantee that your heart will be filled with feelings of both gratitude and pride,” said the St. Kitts and Nevis Prime Minister.

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