St. Kitts, Basseterre (June 4, 2018) – While Barbados grapples with its economic challenges noted Economist and adviser, Mr. Peter Adrien, made a presentation on national radio on Friday, June 2, 2018 lauding the Dr. Timothy Harris led Team Unity Administration for its management of the economy of St. Kitts and Nevis over the last few years since 2015.
According to the regional expert there has been much economic success for St.Kitts-Nevis under the present Team Unity Administration. Adrien declared that when it comes to economic success indicators St.Kitts-Nevis has no match in the Caribbean
“When you say better the life, when it comes to education, employment, the wage indicator, whether it is per capita GDP, whether it is debt overhang, St. Kitts and Nevis has no comparison in the Caribbean,” declared Adrien
Adrien continued “Standards in the area of wages, tax to GDP, area of per capita income, in the area of employment, St. Kitts is unparalleled by any other country in the Caribbean.”
The excellent economic record to date of the Team Unity government compares well in contrast to the first three years of the last term of the Dr. Denzil Douglas administration, which, according to the IMF [International Monetary Fund], recorded negative growth rates in 2010, 2011, 2012 in the range of -3.8, -1.9, and -0.9 percent respectively. The Team Unity administration over its first three years starting in 2015 has recorded positive growth every single year with a near 4% Growth projected for 2018. This Adrien indicated is an exceptionally good growth rate.
When asked what suggestions he can make for enhancing the economic output and outlook of St. Kitts and Nevis to make living standards better for the people, Mr. Adrien responded, “How can we make living standards even better, because they are already good! ”
Adrien suggested “Strengthening the nexus between tourism and other sectors such as education, sports, culture, nature, agriculture and fisheries.”
Mr. Adrien’s endorsement is further proof of the Dr. Timothy Harris led government’s fiscally prudent management of the economy which has resulted in tremendous economic success for the twin island federation. This economic surge has encouraged growth spurts in construction and the establishment of new businesses. An unprecedented 400 plus new businesses have been established within the last few years under the Team Unity Administration. Further growth in the economy is expected thru 2019 with the pending start of major capital projects during the latter half of 2018 including the Six Senses Resort, the 2nd Cruise Pier which has already begun, the Basseterre High School Education Complex, the Island Road Rehabilitation project and the ongoing Unity Housing Solutions which is expected to complete construction of over 300 homes by years end, the Seaview Gardens Hotel Project which has just started and the Ritz Carlton which is expected to begin construction in November.