St. Kitts and Nevis aims for improved economy in upcoming year 2023

Dr Terrance Drew, Prime Minister of St Kitts and Nevis, hope that the Nation's economy will be uplifted and improved in the upcoming year 2023.

Dr Terrance Drew, Prime Minister of St Kitts and Nevis, hope that the Nation’s economy will be uplifted and improved in the upcoming year 2023.

While addressing the Nation with the new budget in the National Assembly, PM Drew disclosed that some of the major features of the COVID-19 pandemic will remain the same till June 2023, which as per the Government, had a comprehensive stocktaking and updated information on the actual state of affairs in Nation’s economy.

Advertisement

Dr Drew, while highlighting the Fiscal Measures and Strategic Intervention, Added that several uncertainties and problems faced by the global economy, such as exogenous shocks, are aimed to be minimized in St. Kitts and Nevis.

While addressing parliamentarians and the Nation, he said that one major aspect of the Government’s Fiscal Strategy is to set a stable and steady revenue base they can trust only to fund the various Public Sector programmes.

The Mid-Term Fiscal Strategy will therefore focus on the following:-

  • Decreasing dependence on CBI inflows to execute the Government’s recurrent programmes
  • Presenting of tax concessions would be based on the provisions of relevant legislation governing the tax regime.
  • Continuing to boost the administration of the tax system, including reviewing and enforcing the guidelines to fund taxpayer compliance and assessing and actively seeking the group of arrears to Government Revenue Agencies.

He pointed out that the Government will meet the needs of the introduction of Unemployment Benefits Legislation and re-assessing and centralizing; it is the various Social Safety Net Programmes which will help to ensure that the Programmes are sustainable and target the needy people. 

The Prime Minister of St. Kitts and Nevis, Dr Terrance Drew, added that his St. Kitts-Nevis Labour Party (SKNLP) Cabinet is looking forward to engaging with the public on these and other important matters concerning good tax governance.

 

Advertisement
Tariq Saeed

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Read More

Dubai: The Crossing sets to open its doors for visitors; offering lip-smacking Indian Cuisine

Located at The H Hotel Dubai, The Crossing is joining forces with confessed connoisseurs of Dubai’s most brilliant Indian food – to hold a special dinner.

Bomb hits Syrian Military college

In a tragic bomb attack during a graduation ceremony stormed the military college in Syria. At least 100 people were killed, and hundreds were injured  in this horrific attack. The attack reportedly hit a military college in Homs province of Syria.

Over 400 left-wing Israeli activists gathered for tree plantation near West Bank village of Burin

Jerusalem, Israel: Around 400 left-wing Israeli activists on the morning of Friday aided the Palestinian farmers in planting trees near the West Bank village...

Recent

Jordan: PM Bashar Al Khasaouna approves ground for draft law of oil rocks

 The Prime Minister of Jordan, Dr Bashar Al-Khasaouna, chaired a session held on Sunday with the Cabinet and approved the justifiable grounds for a draft law on repealing the ratification of the Surface distillation of oil rocks.

“UAE is a global centre for aviation & tourism”, says Bin Touq

Dubai: Abdulla bin Touq Al Marri, Minister of Economy and Chairman of the Board of Directors of the General Civil Aviation Authority, affirmed that the UAE had established a leading position as a global hub for aviation, tourism and travel, thanks to the initiatives it launches and the legislations it adopts. Which will enhance the flow of investments in the field of aviation and the development of airports and infrastructure.

UAE President praised agreement between Russia, Ukraine, Turkiye during call with Turkish President

The United Arab Emirates President, His Highness Sheikh Mohamed bin Zayed Al Nahyan made a phone call to Turkish President Recep Tayyip ErdoÄŸan on Saturday, July 23.
admin