Tuesday 26 May, 2020

PM Chastanet showcases progress by the numbers

Prime Minister Allen Chastanet posted the following to his official Facebook page today, June 26, 2019:

"Our country is re-establishing itself as a leader in so many positive ways. With a capable team as well as the support and encouragement of the many hard working Saint Lucians we have been able to keep Saint Lucia on a steady path towards progress as we seek to build a new Saint Lucia.

While numbers and figures are not the only way to measure success, my Government is pleased with the progress that we have been making towards economic growth, reduction in unemployment, a reduction in the debt to GDP ratio and other indices that indicate that we are on the right path.

I invite you to measure our success not only by the figures seen here, but by the impact our programs have been having on the lives of Saint Lucians in every community.

My pledge is that we will continue to chart this course towards economic growth as we endeavour to create more opportunities for every citizen to live in a Saint Lucia that is safe, prosperous and harmonious as my Government embarks on programs which will redound to a better quality of life for Saint Lucians.

I thank each and everyone for your support thus far and ask that you continue to support the Government on this road towards a better tomorrow. -

The Last Three Years in Numbers
- Economic Growth 2016
- Economic Growth 2017
- Economic Growth 2018
- Reduced unemployment 20.1% 2018 Performance
* The Economy continues to grow. It has grown by 8% since 2016
* the Debt to GDP ratio has fallen from 67.7% in 2015 to 64.9% in 2018

* Government's Revenue grew by 6.4%
* Stay over visitors have increased from 344,000 in 2015 to 395,000 in 2018
* Overall, Saint Lucia recorded just over 1.2 million visitors in 2018
* Banana exports grew by 3.2% to almost 14,000 tonnes and export revenue increased by $1.9 million to $20.3 million in 2018
* In 2018 receipts from CIP were significantly higher at $66.4 million, compared to $27.8 million the year before.
* Larger primary surplus, up from $52.3 million to $101.5 million and a lower overall fiscal deficit down to $69.7 million from $110.1 million the year before.
* Public debt to GDP declined to 64.9% in 2018, from 65.2% in 2017.

* VAT Reduction from 15% to 12.5 %
* Amnesty on outstanding Hospital Bills
* 3 Year amnesty on personal income tax
* Improvement in elderly caregivers program by employing 450 persons island-wide

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