GOV’T BRINGS EMERGENCY COLA PACKAGE
The government has put in place several fiscal repair measures, short term relief initiatives, and initiating long term structural changes to address what they say is the continuing cost of living crisis in St Vincent and the Grenadines (SVG).
Stressing that SVG’s debt-to-GDP ratio is at 113%, with a projection to 145% by 2031 if unchecked, Prime Minister Dr. Godwin Friday, announced the initiatives on Wednesday, May 27, 2026 during a national address, held on the sixth month of his New Democratic Party (NDP)being in office.
“Without our government taking steps to cushion the impact of global price increases, gasoline prices at the pump would go up by approximately $5.60 per gallon, an increase of over 42% and would mean consumers would pay nearly $19 per gallon at the pump, diesel would be near $18 per gallon…,” the prime minister said.
He added that the global oil market currently demands an increase of approximately $5.60 on gasoline and over $5 on diesel, and without government action, gasoline would rise from what it is now, $13.22 a gallon, to approximately $18.82
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