Govt commitment results in reduced Dominica’s inflation rate: Minister Irving McIntyre

Roseau, Dominica: The Minister of Finance, Dr Irving McIntyre stated that the inflation rate of Dominica continues to remain below global level.

He stated that this could be achieved due to the focus of the administration towards promoting local production and consumption.
While sharing the findings of the International Monetary Fund reports, the Minister stated that as per the IMF, “inflation in Dominica was lower than the global levels, averaging 3.5% in the last fiscal year, and it is expected to continue falling to an average of 2.8% in 2024.”

He also stated that the economic conditions of the island nation have been witnessing remarkable growth for three consecutive years. He added that they witnessed the growth of 4.7% in the last year, 5.6% in 2022 and 6.9% in 2021. He stated that such reports indicate that how Dominica is improving its economic growth over the years.

For the same, the Minister credited the Government and their ambitious public sector programmes, retail trade and increased agricultural production due to which they could able to possible the enhancement of the economic conditions.

As per the budget, the Office of the President has been allocated with 1.2M, 60.6M has been allocated to Ministry of National Security and Legal Affairs, 20.6M to Tourism Ministry, 81.9 to Health Ministry and many more.