Government considers impact of international recession on Dominica
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| Published on Saturday, December 13, 2008 |
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ROSEAU, Dominica: The government of Dominica is still conducting studies to consider ways of cushioning the impact of the international recession on Dominica. Minister of Housing, Lands and Telecommunications Reginald Austrie said that the government will be taking into consideration the impact that the international recession will have on the less fortunate in the country.
“We still are looking at the situation and doing the studies to find out exactly how is that likely to impact on Dominica. These studies are not complete so we cannot give you direct figures, but Government has in fact taken measures to ensure that the less-fortunate, particularly in our midst would not be affected too much by the international recession,” Austrie said.
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Dominica Minister for Housing, Lands and Telecommunications,
Reginald Austrie |
The minister stressed that the government of Dominica had been considerate even before the introduction of the international recession. He also mentioned some of the areas of assistance given to Dominicans which was made in the last budget, regardless of the losses to the state.
“It would also ensure that our people will not go about without receiving the adequate health care that is required. You will recall too, what we did in terms of the school transfer grants – we realised that there were a number of students who would pass the common entrance exam and could not get into school. And so the government took a deliberate decision to pay $500 to deserving and needy students to allow them to enter high school,” the minister said.
Meantime, Minister for Economic Partnership and Urban Renewal Julius Timothy said that actions should be taken by government to import less, and to buy cheaper sources of supplies. However, the minister said that Dominica has not yet began to feel the crunch impact, due to remittances that are still received from Dominicans overseas.
“We know that our currency has been stabilised to a large extent due to remittances. When you look at Dominica’s balance of trade you will realize that it shows huge amounts going out and a small amount coming in. This shows very negative trade figures for the island. That is made up to a large extent by remittances from Dominicans overseas. So once those remittances begin to dry up our currency will face challenges,” Timothy explained. | | | | Reads : 957 | | | |
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