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Contact:
Shannon Lebourne
Monday, November 23, 2009 – The Director of Finance Mr. Issac Anthony has
expressed confidence that Saint Lucia will realize solid economic growth in the
next financial year. Mr. Anthony made the projection while indicating that Saint
Lucia's economy had already began recovering from the global economic crisis.
The director of finance says he expects the tourism and construction sectors to
lead the way in economic growth that has been projected for the next financial
year. “It was indeed a bad year for the economy and everyone expected it the
world over. However, we are beginning to see signs of a recovery in the global
economy and also here in Saint Lucia. I am reasonably confident that we will see
positive growth in the economy particularly in the tourism and construction
sectors,” Anthony said.
Meanwhile, the director of finance has underscored the importance for the
private sector to work alongside government, to fuel economic activity in the
country. Mr. Anthony says sustained economic growth cannot be achieved without
the contribution of the private sector. “I would like to encourage the private
sector to continue to support the government in its efforts to facilitate
business expansion and increased economic activity, by honouring payments of
corporate and property taxes, embracing corporate social responsibility, and
becoming an advocate of good governance by persuading government to focus on
executing its core functions in an effective and efficient manner.”
With tourism being the number one revenue generating sector in Saint Lucia,
government recently propped up the industry via a stimulus package—a move
indicative of government’ s commitment towards supporting economic activity on
the island.
However, new programmes coupled with increased financial support in the areas of
agriculture and manufacturing, are all strategic efforts by government to
position Saint Lucia's economy to withstand the brunt of the tough economic
situation.
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