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04th
Feburary 2010
King Talks
Economy
Stan Bishop
 Despite
facing turbulent economic hardships last year,
Prime Minister Stephenson King says the new
year could be one that turns things around.
The prime minister gave the sentiment where
he addressed the nation last Monday evening
as he itemized some of government’s priority
initiatives for 2010.
Massive losses in the jobs sector, he said,
resulted in the level of spending which, in
turn, influenced a decline in the island’s
real GDP of about 5% last year.
Government’s support for job programmes
such as the Holistic Opportunities for Personal
Empowerment (HOPE), he added, was instrumental
in providing jobs for up to 900 people. HOPE,
the prime minister said, will be receiving government’s
continued support, having already received some
$9.6 million in funding.
“Given the successes achieved and the
impact of the programme in creating employment
and enhancing skills, government will be extending
the programme into the next financial year,”
King said. “The government will continue
to make job creation and enhancing social safety
net programmes priorities in 2010 and will seek
to partner with the private sector in pursuit
of its goals. Specific announcements in this
regard can be expected in my next budget address
for 2010/11.”
An increase in additional airlift to St. Lucia
in October and November last year, the prime
minister said, was crucial in the tourism industry
realizing a 4.5% increase in stay-over arrivals
compared with the same period for 2008. The
increase represented some 2950 visitors and
the prime minister said future prospects for
that industry seem bright.
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The construction
sector, too, is expected to receive a huge
boost in 2010, with the construction of the
new national hospital, estimated at $150 million.
The upgrading and modernization of the Hewanorra
International Airport is also one of government’s
key projects for this year.
“(This) includes construction of a new
terminal building, installation of jet bridges,
a new modern air traffic control tower and
increased aircraft apron parking space, all
of which are expected to ease existing congestion
and position Saint Lucia to take advantage
of future growth in tourism. The total cost
of this project is expected at over EC$300
million and construction is expected to begin
by mid-year,” the St. Lucian leader
explained.
Work on the reconstruction of the St. Jude’s
Hospital is also expected to commence this
year. King said work on the Le Paradis/Westin
hotel project, Hotel Chocolat and Point Hardy
Development are also expected to continue
this year.
The prime minister also said that during the
first nine months of the 2009/10 fiscal year,
current revenue fell by some $532 million
or 3.4%, while current expenditure rose by
$479 million or 4%. This, he noted, resulted
in a current account surplus of $53 million
or 56% of the surplus realized during the
same period in 2008/9.
On the issue of crime, King said government
remains unwavering in its support in commitment
to curbing crime and challenged citizens to
do the same.
“I appeal to each and every Saint Lucian
to play your part in taking a stance against
crime. To the young men and women and others
who are being lured in by the destructive
elements, I ask you to rethink those choices.
Do not allow your talents to be wasted away,
through a life of criminality,” King
urged.
In its response to the devastation caused
by the January 12 earthquake in Haiti, the
prime minister said a contribution of $500,000
was made by government to that country. Through
NEMO, and with the assistance of local healthcare
providers, a team has been dispatched to that
affected nation , King said.
Discuss
Story
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