ECONOMY OF SVG CONTINUES TO GROW
Minister of Finance and Economic planning Hon. Camillo Gonsalves said the economy of St. Vincent and the Grenadines is stronger today than it was a year ago despite many challenges.
His comment came as he spoke on WE FM’s Issues at Hand program on Sunday.
Minister Gonsalves said up to the end of last month revenues were tracking ahead of what was predicted with total revenues and grants up to the end of April 2025 amounted to 292 million dollars.
The Finance Minister said his number surpasses a best case forecast of 289 million dollars.
He said the measures of economic activity such as revenue generated at the port, through excise duties and collected as value added tax suggest that economic activity is also increasing.
Minister Gonsalves added that data gathered from the Chamber of Industry and Commerce also indicates positive growth.
On the topic of employment, the Finance Minister said with the opening of Sandals resorts and the high demand for workers in the construction sector , he is confident that the unemployment number is in single digits.
Minister Gonsalves said the Government is also investing heavily in the construction sector following the impacts of hurricane Beryl.
He said over four thousand homes have been repaired or rebuilt with the government expecting to build 1000 homes this year.
