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By Kevon Browne
ST. KITTS AND NEVIS (WINN) — Prime Minister Dr. Terrence Drew highlighted initiatives to strengthen citizens’ wealth accumulation and economic security during the July 2, 2024 broadcast of “Round Table.”
Dr. Drew detailed several initiatives aimed at promoting economic security. These include increasing public sector wages and salaries, raising the minimum wage, advancing the Government Aid Employee (GAE) pension plan, implementing Social Security reforms, and launching a children’s financial and education program scheduled to begin in September 2024.
The Prime Minister stressed the government’s commitment to sustainable development and economic stability.
“We are taking permanent, sustainable measures to protect our people. No other country in CARICOM or the Caribbean has done what we have done. This is not to toot our own horn, but when people want to criticise St Kitts and Nevis, criticise their own country for false information, I want to point out that we are not perfect, we know there are problems. We know that our people sometimes need more help. We understand that. For our people, we will always work for them.”
Dr. Drew also spoke about the needs of vulnerable groups in society, promising the continuation of social assistance programs. He detailed the subsidies provided by the government to mitigate the impact of inflation following the COVID-19 pandemic. These subsidies cover water, electricity, gas, gasoline, food and basic cable TV bills, ensuring that these costs remain stable. The total subsidy amount is well over $250 million, with social safety net programs accounting for 25% of the annual budget.
Dr Drew reiterated the government’s commitment to the well-being of its citizens.
“This government and this administration will continue to work for you, the people of St. Kitts and Nevis. We know things are not perfect, and they will not be perfect. We hear you. But please also know that this government, our administration, is humble and always looking for solutions to make your lives better. That’s why we have the highest minimum wage in the entire region. That’s why we have the best pension plan in the region. That’s why we have social security reforms to make it sustainable and strong for the future. Twenty-five percent of our budget is built on or spent on the social safety net.”
Speaking about the country’s economic strategy, Dr. Drew acknowledged the need to diversify beyond the Citizenship by Investment (CBI) program. He stressed that the government is working towards a sustainable island nation while supporting the people and reducing its reliance on the CBI program.
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