Dominica: The government of Dominica is known for its efforts to create a passage for development in the nation day by day. In the amid crisis, Dominica continues to enhance the facilities of the country that would act as a catalyst for the development.
After, Health and Wellness, the government initiates to focus on Road safety in the nation, Bridge construction and various projects related to construction in Roseau Central and other regions.
Discussing the economic status of Dominica, PM Skerrit stated, “revenue of Dominica is improving.”
Natural Disasters led to drop in the economy again and again
We have to put the economic status of Dominica in context as; first, it was hit hard by Tropical Storm (TS) Erika, which destroyed 90% of GDP. Then, the hurricane destroyed the GDP; even after these challenges, our government provides every facility to the citizens, PM Skerrit added.
PM asserted, “Payment of salaries to the residents, construction of Health and Wellness centres and other infrastructure and implementation of various schemes in the nation despite the challenges.”
We have always said that prudent and responsible management of the economy is critical in Dominica, especially a small and exposed and vulnerable country like ours that has suffered major natural disasters. So we are not where we are expected to be before the pandemic, he added.
PM Skerrit stated, “In 2019, Dominica witnessed 9% growth in the economy. In 2020, it was anticipated of 5.8% rise but, coronavirus has change things around.”
Vulnerable Risk Fund is the solution
As Dominica has encountered several external shocks and other natural disasters, the Vulnerable Risk Fund has been included in the budget plan told by PM Skerrit in answer to Freelance Reporter Ronda Luke.
The government of Dominica is paying all the funds in the Vulnerable Risk Fund since last October, around half $1000000 every month from the resources, PM Skerrit added.
The purpose of this Fund is to when there is an immediate need, rather than going to IMF, we can take assistance from the Vulnerable Risk Fund, PM added.