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Government updates Private Sector on Economic Outlook

Contact: Claudia Monlouis

Monday, December 16, 2002 - Top Private Sector representatives and public sector officials, were recently brought up to speed with the status of the country’s economy, via an Economic Briefing held at the NIC conference room earlier this month (December 12th). The Briefing was chaired by Prime Minister Dr. Kenny Anthony, Minister for Finance and included other government representatives.

Adrian Augier, Economic Policy Advisor to the Prime Minister, described the exercise as an objective sharing of information between the two parties.

According to Mr. Augier, the private sector representatives were provided with a clear picture of the critical issues and key statistics indicate about the economy. He says the exchange of information, should serve as a guide.

“At least there is objective information now available which they can use for decision making and that was the objective. The feedback that has reached us has been positive. People have looked at this as something useful. They feel in fact, there’s a plan or elements of a plan, and it has removed some of the uncertainty with regard to where government intends to go and how quickly we’re going to get there.”

Mr. Augier expects the private sector to follow- up this exercise by undertaking its own analysis. The critical areas which were discussed are Tourism, Telecommunications and Agriculture with specific emphasis on bananas.

The private sector has suggested that the process be repeated outside of the capital, Castries, with an added objective to formulate strategies that would assist in dealing with the problems which have been identified.

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