Budget Speech 2011 - Government of Grenada

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Moreover, we must be prepared to maintain high rates of savings and investment. Finally, to achieve sustained growth requires that we create a business climate in which firms and entrepreneurs feel that they have enough of a claim on their assets to invest heavily in them. Only in that way, would we be able to achieve sustainable economic growth. It is therefore intended that the Growth and Poverty Reduction Strategy will embody a comprehensive effort to transform our economy and serve as a roadmap to propel our Nation to a higher quality of life. It will cover the five transformational sectors and identify the projects and business opportunities that have the potential to directly and materially contribute to sustained economic growth. So our approach to the management of the economy is not a mere fiscal accounting enterprise, as some may suggest. Instead, we have proceeded with considerable dexterity and creativity, combining fiscal prudence with enterprise. The report of our performance over the past 12 months demonstrates that the approach of this Government has been considered, creative and comprehensive. We have sought to strike a delicate balance between immediate, medium and long term initiatives. I respectfully submit that this is the right approach. It is propelled by a commitment to good governance but also by a clear recognition that Grenada needs to be repositioned to exploit new and emerging opportunities. I wish to emphasise this point because it is the habit of some to think only in five year cycles which coincide with elections. This is a shortsighted approach which always shortchanges a country’s development prospects. As a responsible and visionary Government, we recognize that our Nation’s prosperity tomorrow depends on what we do today. In concluding my remarks on repositioning our country and transforming our economy, it is necessary for me to say that the success of our efforts 2011 Budget Statement Page 35
will depend on two additional critical factors, namely, a sharper focus on foreign policy and a repositioning of our thinking as a nation. I wish to comment on these two factors. 4.2 Foreign Policy Focus Mr. Speaker, in this era of rapidly decreasing grant aid, and an end to preferential arrangements, our diplomatic engagements must advance our vital national interests and development. The Ministry of Foreign Affairs will continue to make concerted efforts to ensure that relations with Grenada’s traditional allies are maintained and strengthened. At the same time the Ministry will aggressively pursue the establishment and development of ties with non-traditional allies such as newly emerging powers like China, India and Brazil. Government will also continue to pursue bilateral cooperation with States in the Middle East and North Africa. This year, the top priorities will be: • Reviewing Grenada’s Foreign Policy to ensure a greater focus on Investment and Resource Mobilization • Expanding diplomatic relations with selected countries • Engaging the Grenadian Diaspora to participate in and contribute to social and economic development of their homeland • Reviewing the criteria for the appointment of Grenada’s Honorary Consuls abroad and make appropriate adjustments where necessary • Developing a Career Foreign Service; and • Strengthening the capacity of the Ministry of Foreign Affairs and its overseas missions to implement Government’s Foreign Policy more effectively. Page 36 2011 Budget Statement
Page 1 and 2: GOVERNMENT OF GRENADA 2011 Budget S
Page 3 and 4: 5.8 Strengthening Economic Manageme
Page 5 and 6: Page 4 2011 Budget Statement
Page 7 and 8: At home, many of us lost loved ones
Page 9 and 10: not accompanied by significant job
Page 11 and 12: Mr. Speaker, the data show that the
Page 13 and 14: 3.0 LOCAL DEVELOPMENTS 3.1 Performa
Page 15 and 16: In an effort to provide additional
Page 17 and 18: It is useful to understand how Gove
Page 19 and 20: Based on the revised GDP, Grenada
Page 21 and 22: This year, our VAT Unit will intens
Page 23 and 24: Improving the Business Climate •
Page 25 and 26: o o 6 acres of avocados 10.6 acres
Page 27 and 28: • Provided every primary and seco
Page 29 and 30: Violence Act - landmark legislation
Page 31 and 32: We pointed out that there are sever
Page 33 and 34: We commenced the process of tax ref
Page 35: In preparing this strategy we have
Page 39 and 40: The individual freedoms we enjoy in
Page 41 and 42: Public Debt - $188.3 million (or 24
Page 43 and 44: 4. Improved marketability of fish p
Page 45 and 46: Support for Airlift It should be no
Page 47 and 48: in securing vacations and is workin
Page 49 and 50: We are working closely with the Off
Page 51 and 52: to explore the technical and commer
Page 53 and 54: the three (3) sites, thus negating
Page 55 and 56: In a real sense, C@ribNET is a cata
Page 57 and 58: And Grenada is not alone. Having re
Page 59 and 60: Project Grenville Market Developmen
Page 61 and 62: The report showed that of the perso
Page 63 and 64: To our dismay, the design works wer
Page 65 and 66: Its development goal is to contribu
Page 67 and 68: Programme. This initiative will tar
Page 69 and 70: VI. Support for Existing Businesses
Page 71 and 72: and we will continue to offer that.
Page 73 and 74: persons whose employment was involu
Page 75 and 76: This year, Government will continue
Page 77 and 78: 9. Creating training and educationa
Page 79 and 80: The Grenada Home Improvement Scheme
Page 81 and 82: 4. To commence work on the Top Hill
Page 83 and 84: The Sustainable Development Council
Page 85 and 86: The updated Public Service Rules an
Page 87 and 88:
These achievements included: • Su
Page 89 and 90:
all sectors of our society. NaDMA w
Page 91 and 92:
The Organisation of Eastern Caribbe
Page 93 and 94:
Mr. Speaker, we have articulated a
Page 95 and 96:
Page 94 2011 Budget Statement
Page 97 and 98:
Page 99 and 100:
Page 101 and 102:
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Budget Speech 2011 - Government of Grenada

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