BREAKING NEWS – Saint Lucia Economy Reports 3% Growth in 2017

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Senator the Honourable Dr. Ubaldus Raymond Minister in the Ministry of Finance

Dr. Ubaldus Raymond, Minister in the Ministry of Finance moments ago revealed that Saint Lucia is on the “path to recovery” as it recorded a growth rate of three percent at the end of 2017.

According to the minister, “I also want to report to the nation that Saint Lucia is on a path of recovery. I also want to remind Saint Lucians where we were when we took office we in 2016. We found an unemployment rate of close to twenty five percent. We found a country, an economic system that was broken, a judicial system that was broken, a health system that was broken, and we as a government decided to undertake the task of rebuilding this country. In fact we said that we will have a new Saint Lucia.

Fifteen months later I can report to the nation that unemployment has dropped from the 24.5 % we found, to today at the end of 2017 it is now 20.1%. A 4.2 to 4.3% drop in the unemployment rate – that is tremendous. Today we can boast and say that we are no longer the least performing jurisdiction in the OECS. We once were proud to be the number one performing jurisdiction in the OECS, but during the reign of the Labour Party we ended up being the worst performing for a number of years. In fact for three out of the 4 years they were governing the country. Today we can say proudly that were are part of the top three in the OECS. Just 15 months moving from the bottom to the top 3, and we can report as a country in 2017 a three percent growth rate.”

The press conference was held at the office of the prime minister at the Greaham Louisy Building on Castries Waterfront.

Full audio of press statement.

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