The Opposition continues denying reality for a third consecutive new year and remains blind, deaf and dumb regarding any government pass-marks whatsoever in its 2023 Report Book as Presented by the Prime Minister’s New Year Address, making it necessary to show how off-track this losing position is.
Prime Minister Philip J. Pierre offered facts, figures and statistics that the Opposition Leader could have refuted with evidence had he chosen to, but even though he didn’t, that doesn’t change the actual price of coffee, tea, cocoa – or anything.
PM Pierre pointed out that his administration’s economic and social policies “have positioned the economy on a solid path to sustained economic growth…” – and notwithstanding the impact and pressures of global inflation on the economy, 2023 was “a good year for Saint Lucia.”
The Minister for Finance indicated the economy “has been stabilized in the post-COVID pandemic period” and he quoted the International Monetary Fund (IMF) as predicting economic growth figures for 2023.
PM Pierre posited that the results from 2021 to 2023 have shown that his administration’s fiscal policies “are working well for the economy,” having “pursued an economic policy of economic stabilization, growth stimulation and citizen empowerment” that had “reversed the downward trends of 2018-2020 and registered positive growth in 2021-2023.”
The Finance Minister posited that “Financial responsibility is a prerequisite for sustained growth, job creation and capital investments in tourism, education, health care, social services and physical infrastructure,” on the basis of which, in Fiscal Year 2023, his government “generated sufficient revenue to cover recurrent expenditure and to service the interest component on debt obligations.”
Prime Minister Pierre noted it was “equally important” that in 2023, his administration “implemented a set of policy interventions which directly benefitted thousands of citizens, of all walks of life.”
He reported government had also “increased social support to the less-fortunate” and “expanded educational opportunities, enhanced health care services, supported youth business development and financed micro-small-and-medium-sized businesses.”
Through “prudent financial management and inclusive economic policies”, the Economic Development minister said, his administration had “created the enabling environment to stimulate expansion in the productive sectors, particularly in tourism.”
On the basis of his government’s 2023 report, Prime Minister Pierre said he was “very optimistic about the continued growth prospects for 2024,” but cautioned too, that “We must proceed with caution, as there are some downside risks.”
“Having achieved the necessary financial stability and growth milestones in 2024,” he promised, his administration “will prioritize investments in infrastructure, housing development, seaports, airport and road rehabilitation.”
PM Pierre indicated that Global Ports Holdings (GPH) will soon start work on the redevelopment and modernization of the cruise infrastructure of Port Castries and the Soufriere Waterfront on a 30-year concessionary agreement.
And contrary to Opposition claims, the prime minister said: “The two ports have not been sold and remain national public assets owned by the Government of Saint Lucia.”
He explained further, “The truth is that, on average, 10% of SLASPA’s revenue is generated directly from Cruise ship operations – and it is this 10% that will fund the development on a revenue-sharing agreement.”
PM Pierre also noted that “Cargo operations will continue to account for 90% of SLASPA’s revenue and this will remain with SLASPA”, while its “cruise-related debt of approximately US$20 million will be paid by GPH.”
The PM said his government will in this year “allocate significant technical and financial resources to road rehabilitation and construction” and will commence remedial work on roads island-wide, including the Castries-Gros Islet Highway.
Government also expects “significant progress” on both Lots of the Millennium Highway Project, he added, “as progress on Lot One has so far been unsatisfactory.”
But, the PM said, Saint Lucians can expect “major private and public investments in housing development, with a special focus on providing affordable housing for low-and-middle-income earners, while paying special attention to public servants.”
He promised government “will start construction of the Hewanorra International Airport terminal building in a responsible manner”, but “Work is continuing on the Control Tower Building and work on the runway, airfield and ground-lighting system will commence this year.”
Government will continue work on the construction of St Jude Hospital in 2024, he promised, “to deliver a well-equipped hospital to the public…”
Meanwhile, work on four hospital buildings is expected to be completed by June 2024 and on others shortly after.
PM Pierre said his government “will continue to implement policy measures to give birth to a new generation of entrepreneurs” through the Youth Economy and MSME Facility, which programmes “have demonstrated the innovative capacity of Saint Lucians to generate sustainable employment and wealth in the future.”
The administration will this year also “continue to nurture a conducive business environment, through the digital transformation of government services and improvement to the ease of doing business,” to provide the private sector with “an environment where impediments to business start-up and expansion are lessened.”
It will “also continue to grow the economy by empowering all sectors”, while “tax reform and tax amnesty policies will be reviewed so that more disposable income will be placed in the hands of businesses and individuals.”
During 2024, the PM said, the government intends to pass new legislation “to encourage large local and foreign businesses to invest across all sectors of the economy,” with enhanced incentives and improvement in the granting of approvals and other processes.”
It will also introduce legislation to encourage residents in the Diaspora “to return to open business ventures in our country.”
Obviously, the Opposition has refused to see, hear or acknowledge anything the government claims to have done successfully, instead starting another year denying reality and employing longer and deeper levels of voluntary amnesia to recycle already-debunked untruths.
But whether his opponents like it or not, the simple truth is: Prime Minister Pierre and his government have Time, Truth and History on their side.