The Office of the Prime Minister has released a statement noting some developments which it believes will positively impact the economy. In December, the government will disburse in excess of XCD $20 million in back pay owed to public servants. In addition, more than XCD 2.6 million will be invested in the economic stimulus program that will benefit all of Saint Lucia’s seventeen [17] constituencies by creating new jobs, improving access to local government services and beautifying communities.

Currently, public servants are benefiting from a 1% salary increase and are getting paid more than they did in 2021. NIC pensioners are receiving an additional 4.2% on their monthly payments and to offset inflation, duties on price-controlled goods have been suspended.

71% of local businesses are on track to make more money in 2022 than they did last year. Major infrastructure projects are creating jobs and private sector investors have begun expanding operations in Saint Lucia.

And, despite global economic challenges, the United Nations Economic Commission for Latin America and the Caribbean [ECLAC] is projecting 9.5% GDP growth for Saint Lucia in 2022.

SOURCE – Office of the Prime Minister

  Caribbean, Prime Minister Philip J. Pierre, Saint Lucia, St Lucia