Local economy safeguarded from adverse external shocks- PM Skerrit

While the current global economic crisis continue to result in massive jobs cuts and forced austerity measures in countries the world over, Prime Minister Hon. Roosevelt Skerrit said Dominica continues to manage its finances in the most cost effective manner.

The Prime Minister made reference to international countries currently grappling with their economies when he addressed a town hall meeting in Penville last week Thursday.

“We watch the news every day, we have relatives and friends and family living in other parts of the world in the United States, England, Canada, St. Martin and they tell us how difficult life is in these parts. Countries that are more affluent than Dominica, like the United States where they have injected several hundreds of billions of dollars in the economy, yet still they have not been able to overcome their economic challenges. The United Kingdom continues to make serious cuts in their budget, they sent home four thousand five hundred soldiers (4500) in the British Army because the Government cannot afford to pay them” PM Skerrit observed.

The Prime Minister added that while Dominica’s financial situation is not the best his Government has been able to maintain employment levels within the public service.

“Police officers are going home, teachers, nurses are being sent home in England but in Dominica we are increasing the police force, the number of nurses we have at our hospitals and we are increasing the number of teachers making them available to our students at a time when the world is going through a difficult time “the PM remarked.

The Prime Minister noted further that he has and will continue to make several attempts to curtail the effect of the global financial crisis on Dominica’s economy.

He said Dominica has been able to remain afloat largely due to financial aid sought from friendly donor countries.

The Prime minister used the opportunity to make reference to a recent request made to one such donor( he didn’t disclose) for an additional 45 million EC dollars which he says will be made available to Dominica shortly.

“There’s another country I asked for 45 million dollars at a time when the world is going through some real challenges and because of the relationship which I have with them, and they have with Dominica, they have said to me Roosevelt Skerrit that this money will be made available to you and the Government and people of Dominica in a short period of time, EC$45million” he stated.

He concluded “Ladies and gentlemen in this difficult period it is who you know and who knows you and it’s the type of friendships that Dominica has been able to develop over the years that continue to see us through”.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.