Government Helps To Keep The Economy Afloat

Sinking Economy In St. Kitts Nevis

St. Kitts – Nevis Government Vows Greater Financial Support

Basseterre, St. Kitts – Nevis
September 02, 2009 (CUOPM)

Government’s direct support to small businesses through tax concessions and its land distribution policy has helped to keep the economy buoyant despite the setbacks in the global economy.

Cabinet during its recent meetings have reviewed the recent reports of the fiscal situation for the first quarter of 2009 and pledged to continue to give even greater support to small businesses conscious of the fact that small businesses represent a cornerstones of the St. Kitts and Nevis national economy.

According to the Post Cabinet Briefings, the St. Kitts-Nevis Labour Cabinet approved requests by three small businesses for assistance by way of tax concessions.

“These small businesses are service-oriented and manufacturing businesses with significant potential for growth and spin-offs in the local economy,” said the statement.

It disclosed that requests for land for two small businesses were also approved, consistent with government’s policy to support the establishment of small businesses and to make land available to small local entrepreneurs for business development.

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