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Posted: Thursday 3 December, 2020 at 11:08 AM

Govt. plans to implement measures to cushion COVID-19 impact

By: Staff Reporter, SKNVibes.com

    BASSETERRE, St. Kitts – IMPACT of the COVID-19 pandemic is still being felt in St. Kitts and Nevis, and the Government is expected to respond with measures to cushion the blow in the 2021 Budget which is expected to be tabled in two weeks’ time.

     

    Many people are still unemployed while the business community has not yet fully rebounded from the shutdowns and the loss of commercial activities due to the pandemic, which has affected both public and private sector entities.

     

    While addressing reporters at his recently held press conference, Prime Minister and Minister of Finance Dr. Timothy Harris explained that there are still thousands of people in the Federation who are facing difficulties due to the pandemic and his Government would respond appropriately in the Budget.

     

    Going forward, Dr. Harris said reprioritising what is important must be at the forefront of decision-making both as a people and a nation.

     

    He claimed that had it not been for the Government’s “prudent financial management of the economy” leading up to the pandemic, the local economy would have been destroyed.

     

    “Our strong fiscal buffers then gave us the financial space to respond,” he added.

     

    Several territories across the region are facing financial challenges, specifically Antigua and Barbuda, St. Lucia and The Bahamas, all of which saw their leaders speaking publicly on the level of financial challenges facing their islands.

     

    In St. Lucia, the Government had to give public servants part cash salary payments and part bonds, as the territory’s economy was decimated by the virus.

     

    But in St. Kitts and Nevis, the Government took a number of initiatives to buffer the economic fallout, including passing a $120 million stimulus package.

     

    Speaking to the Budget, Dr. Harris disclosed that the Government is far advanced in the preparation for the laying of the Budget later this month.

     

    Though the Prime Minister did not give much details on the amount of the Budget, he noted that it would have the usual safety net programme for the vulnerable.

     

    “In this year’s Budget Address, I will outline programmes to chart the recovery efforts made necessary by the impact of the COVID-19; COVID-19 is still with us,” Dr. Harris said.

     

    The Appropriations are expected to be read on December 15, 2020.

     


     

     

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