Last Updated on August 9, 2023, 7:16 AM AST by Anthony Morris
The prime minister of St Kitts and Nevis, Dr Terrance Drew, recently took to his social media account to share some more significant developments that the St Kitts and Nevis Labour Party has achieved in the last year of administration. The team St Kitts and Nevis Labour Party has significantly emphasized creating jobs and employment for the country’s people.
The country’s Prime Minister asserted the actions and initiatives that the government has taken up for the benefit of the people. Some of the most important steps they have taken to use the country’s economy include the revocation of the Covid Restrictions.
The prime minister stated that this step was taken to protect the country’s tourism sector and economy. Taking to his social media account, Dr Terrance Drew announced that St Kitts and Nevis’ economy rebounded significantly over the last year with growth in multiple sectors such as tourism, agriculture, financial services, and strengthening the Citizenship by Investment Programme.
Prime Minister Dr Terrance Drew recounted the following accomplishments:
- Reduced student loan interest rates to 5% at the Development Bank
- 0% down payment for mortgages from indigenous financial institutions
- Provided interest-free debt relief for the first 4.3 years of student loans
- Duty-free import of food up to 400lbs; duty-free allowance of US $200 for travellers & non-commercial importers
- Extended Discounted VAT Days to three times a year – Easter, Summer, & Christmas
- Created a “Graduate Finance” Project with a $15,000 credit for student loan holders at the Development Bank & other banks
- Provided EC$25,000 grant to students pursuing relevant undergraduate or graduate
- Terrance Drew led the administration distributed the First-ever CBI dividend payments in Dec 2022 and June 2023
- $20,000 Small Business Loans from the Development Bank for Covid-19 affected businesses
- Reinstated gratuity payments for retired Government Auxiliary Employees (CAE) with a minimum of 10 years of service
- Fuel Variation Charge (FVC) subsidized
- Established Ministry of Small Business & Entrepreneurship
- Launched “Venture Deeper” Tourism Brand Campaign
- Welcomed the Wonder of the Seas (the world’s largest cruise liner)
- Introduced Inter-Caribbean Airlines to airlift
- Introduced Caribbean Airlines to airlift capacities
- Introduced JetBlue Airlines to airlift
- Subsidized the cost of fuel & electricity to the tune of $9 million per month
- Highest-ever tax collection By Inland revenue, despite no new taxes & no increase in existing taxes
Anthony Morris covers stories related to politics and regional developments. His in-depth reporting about governance and reforms makes him stand out in regional journalism, with a deep analysis of political trends and their impact on Caribbean communities.
