IMF Report 2023 highlights positive outlook of economic conditions in St Kitts and Nevis, says PM Drew

Basseterre, St Kitts and Nevis: Prime Minister of St Kitts and Nevis, Dr Terrance Drew shared the insights of the IMF report 2023 with the aim of maintaining the transparency and accountability of the government economic agenda. The reports shed light on the remarkable economic turnaround of the island nation.

As per the reports shared by PM Drew, the Federation has achieved significant milestones and growth in the year 2023 as compared to 2022. The fiscal surplus gained by the nation signifies the government’s unwavering commitment and dedication to overcome all the challenges and deficits faced by the island nation in 2022.

“I share with you insights of the 2023 IMF report. This is in keeping with our good governance agenda, and to be transparent and accountable. This is unlike the previous administration which hid IMF reports from the people that demonstrated their corrupt ways.
Never again,” mentioned PM Terrance Drew.

The findings of the IMF outlined the measures undertaken by the government and recover the nation from the issues faced by the nation after COVID-19.

PM Terrance Drew highlighted the measures being taken by the government of St Kitts and Nevis to enhance the economic conditions which include, improvement of the taxation system, increasing investments in renewable energy and climate adaptation.

Along with that, he also emphasized the introduction of a sustainability and resilience fund and an explicit fiscal rule which played a crucial role in securing the Federation’s fiscal framework.

According to the reports, the nation has witnessed a positive economic turnaround due to various factors which include, Renewable Energy Investments, Tourism Recovery, Inflation Management and the Citizenship by Investment Programme.

The leader of the nation also talked about the Citizenship-by-Investment Programme of the St Kitts and Nevis which has played a pivotal role in strengthening the economic foundation for future generations.

PM Terrance Drew shared the government’s vision of making St Kitts and Nevis a sustainable and economically stable nation, prioritizing the needs and improving the living standard of the citizens and residents of the island nation.

“As St. Kitts and Nevis embarks on further economic reforms and infrastructure development, the focus remains on sustainable growth, financial stability, and improving the quality of life for all its citizens,” mentioned PM Terrance Drew.