ST GEORGE’S, Grenada (GIS) — Prime minister of Grenada, Dr Keith Mitchell, is confident that the “new economy” being created by his New National Party (NNP) government will spur economic growth and development.
Mitchell painted a picture of his government’s plans to transform the economy, which has been contracting over the past five years, as he spoke to fellow heads of the Eastern Caribbean at the 57th Meeting of the OECS Authority, held recently in St John’s Antigua.
|Prime Minister Dr Keith Mitchell|
He said, that the “new economy” outlines clear strategy directions for pursuing economic stabilization growth and economic transformation.
Improving the investment climate, improving the VAT system, stimulating the construction and manufacturing sectors, agriculture and fisheries development, energy development, trade and export development, the enhancement of information communications technology and the development of micro, small and medium size enterprises are the main areas being targeted in the new thrust.
The government is confident that it has won the trust of the people, who Mitchell indicated, will be very much involved in the birth of the “new economy”.
“The emphasis is reducing the size of government. We have no choice, but at the same time allowing government to be an enabler, by promoting and developing an Institutional framework and incentives that promote economic growth and business opportunities,” he pointed out.
Mitchell told his fellow prime ministers and other dignitaries at the OECS Authority meeting, that his government is working assiduously to transform and build a robust economy, with emphasis on reducing high unemployment and spurring economic growth.
“We have a commitment to set forth the domestic, institutional and developmental process towards that new economy,” Mitchell said.
Government officials are confident that the struggling economy will finally stabilize and grow by at least 1.5% in 2013.