Nevis Economy Strong For Early Part Of 2008

Money - Dollars

Nevis Island Financially Strong

Charlestown, Nevis
May 30, 2008

Nevis has recorded a surplus for the first four months of 2008. Premier and Minister of Finance in the Nevis Island Administration (NIA) Hon. Joseph Parry made the disclosure on May 29, 2008 on NTV Channel 8, in report on the island’s financial status.

“In the first four months for the year, that is January, February, March and April. In the month of April we had total revenue collected at $12,979,372. that compares against  a total expenditure of $8,370,463. giving us a total surplus of $4,608,909.

If I compare the first four months of last year to the first four months of this year, it would read as follows: At the end of April last year, there was a total deficit of $7,986,930. for this year for the first four months of the year an overall surplus of $2,902,235,” he said.

The Finance Minister said the surplus under the Nevis Reformation Led Administration, was an indication of the strong financial status of Nevis, a situation envious by any Caribbean government and in the world.

Notwithstanding, Mr. Parry gave the undertaking that the government would continue to exercise financial prudence.

“What this means that we are in a very strong position financially for the first four months of the year and let me explain this. We are not only in surplus in terms of current expenditure and revenue but we have an overall surplus when we give account of capital expenditure and revenue.

“That is a very strong and healthy position that any government in the Caribbean and any government in the world would like to be in. I assure you that we will continue to exercise financial prudence to make sure that the finances of this government and the country are in order,” he said.

Mr. Parry said he was pleased to report the financial situation to the public because it was useful to know what was happening with regard to government finances. He said there was a concerted effort at the last sitting of the Nevis Island Assembly to give the impression that the state of the finances was less than healthy and it behooved him to report on the situation.

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St. Kitts – Nevis Transforms Local Economy



St, Kitts Scenic Railway
Photo By Erasmus Williams

Basseterre, Saint Kitts – Nevis
May 21, 2008 (CUOPM)

St. Kitts and Nevis which closed its three hundred year-old sugar industry three years ago is reporting success in the implementation of strategies to transform the national economy.

Political Leader of the governing St. Kitts – Nevis Labour Party, Prime Minister Hon. Dr. Denzil L. Douglas told hundreds of Labour Party members and supporters, representatives of the diplomatic corps and business community at his party’s 76th Annual National Conference, that the success of the strategy is quite evident in the economic, social and physical infrastructure, which has been dramatically overhauled and expanded and which has acted as a magnet for foreign direct investment.

Indentifying the various projects aimed at unleashing high-end tourism services, the St. Kitts and Nevis leader referred to the strides in other areas such as financial, information and communication technology and offshore education services, which he said are already delivering substantial social and economic benefits to the people of the federation.

“Our roads and bridges are now among the best in the Caribbean region despite the recent setback. Our telecommunications services are the state-of-the-art and are now much more affordable and competitive and local ownership is now shared because of the new legislative and institutional framework that we have established,” said Dr. Douglas, in his address at the St. Kitts Marriott and Royal Beach Casino.

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Globalisation Threatens Small Developing States


Basseterre, Saint Kitts – Nevis
April 15, 2008 (CUOPM)

Globalisation of the 21st century presents novel and dynamic conditions which threaten the interests of States worldwide.

So says St. Kitts and Nevis’ Minister of Foreign Affairs, International Trade, Industry, Commerce and Consumer Affairs, Dr. the Hon. Timothy Harris.

Highlighting the resources necessary to implement the plans and objectives of the Ministry for this year, Minister Harris said that current developments have created such an evolution that the impact on small developing states such as St Kitts and Nevis is colossal.

“Countries that succeed are those which to a large extent understand and adjust to the changing rules speedily and efficiently,” said Harris, who pointed out that it was therefore imperative that the Ministry of Foreign Affairs and International Trade of St. Kitts and Nevis develops, implements and improves on its mechanisms and programmes that will enable it to treat decisively and effectively with the challenges and opportunities of this phenomenon.

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