PM warns Vincentians recession is not over

Vincentians are being told to brace for additional difficulties as a result of the global economic crisis.

According to Prime Minister Dr Ralph Gonsalves, even though there are small signs of recovery in the world’s economy, there is what he calls an economic “time lag” between the economies of the United Sates and Europe and those in the Caribbean.{{more}}

“So you may well find at the time when some recovery is commencing in the US and in the EU, we are still feeling the after effects of the recession internationally,” Dr Gonsalves said on a We Fm radio call-in programme on Sunday, May 10th.

The Prime Minister said that while essential projects in the area of education, housing, road maintenance and at the International Airport at Argyle continue, the government has had to make adjustments to its implementation schedule in some areas.

He explained that the projects which already have loans or grant funds here are the ones that will continue, but projects that “require a lot of input from the domestic revenue” have been held back, unless they are “absolutely vital.”

Extra-regional travel for ministers and government officials will also be cut back, Dr Gonsalves further stated.

Dr Gonsalves however said that things are encouraging for St Vincent and the Grenadines with regard to job security for its citizens.

He said that there have been no layoffs by the four largest employers of Vincentians.

He said that he has received assurances from the Canouan Resorts Ltd. and The Mustique Company that the jobs of Vincentians are safe.

Meanwhile, the government has created more positions in central government and the Royal Caribbean Cruise Lines has not cut the jobs of any Vincentians.(KJ)