PM Douglas Delivers His Party Address…
Says Public Debt “No Longer an Issue”
By L.K. Hewlett
Editor- SKNVibes.com
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PM Douglas giving speech
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BASSETERRE, St. Kitts – The St. Kitts Nevis Labour Party held its 76th Annual National Conference on Sunday, May18th at the St. Kitts Marriott Resort, Frigate Bay where hundreds turned out to hear Prime Minister Hon. Denzil Douglas deliver his ‘Party Address’.
During his oration, Douglas proclaimed that the level of Public Debt had changed its trajectory and is headed downward due to increased economic activity and as the consequence of an increase in revenue collection.
“We could not have had the massive strides that we have made in creating the new economy without incurring debt and the monies that were raised by debt have been put to good use. The development projects funded by such debt will yield returns that are necessary to pay off those same debts,” the Minister of Finance said.
The federation’s leader also informed of an overall reported surplus of 8.6 million dollars for the first quarter of 2008, saying it was
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Audience at Labour conference
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expected to increase significantly by year end.
“Ladies and gentlemen, we are taking care of the national debt. That’s not an issue any more! We are taking care of it and you are benefitting from it,” Douglas emphasized.
He expressed belief of the continuation of the downward spiral of the level of the National Debt as a result of “our very productive and innovative capital progress”. He said as these initiatives bear even greater fruits, the pace of debt reduction will gather momentum and will continue to fall.
The Prime Minister however, implored the citizens as a society to continue to combine its resources to combat and eradicate crime, a problem he warned, that could “undermine the very foundation of that economy in our society”.~~Adz:Left~~
