Caribbean Times 81st Issue

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8 c a r i b b e a n t i m e s . a g Monday 23rd January 2017 Local economy best in the Caribbean By Everton Barnes The Antigua and Barbuda economy ended the year 2016 with a growth rate of 4.3 percent. Making it one of the best performing economies not just in the Caribbean, but throughout the Americas. That’s the assessment of Junior Chamber Youth (JCY), the youth arm of JCI Antigua ,is pleased to announce that on Saturday 14th January, the first of a three part series of workshops was hosted. The workshops are geared towards the development of youths in Antigua. They are held at the Antigua State College on Saturdays from 10 AM to 1 PM. Facilitators are invited to make presentations to 25 secondary school students as well as JCY members on topics to including Healthy Relationships, Self Love and Acceptance, Anger Management and Personal Hygiene. The final workshop will be held on Saturday 28th January. We extend a sincere thank you to the parents who allowed their children to be a part of this initiative as well as our previous facilitators, Miss Zahra Airall and Mrs. Prime Minister and Finance Minister, Gaston Browne, as he delivered the 2017 Budget Presentation to the House of Representatives last Friday. PM Browne said the government is building the foundation upon which he anticipates that economic growth will surpass the 2016 rate by the end of 2017. “I report on the economy that the UN Economic Commission on Latin America and the Caribbean projects as the fastest growing economy in the Caribbean and the fourth fastest growing Junior Chamber Youth host workshop Natasha Blake-Richards. As the president, I firmly speak on behalf of Junior Chamber Youth in declaring that we will continue to pursue avenues to empower and develop our youth of today into leaders of tomorrow. economy in Latin America and the Caribbean. I report on the economy that, in 2016, grew at the greatest rate of all of the Caribbean Community (CARICOM) countries. “I report on the economy that outpaced the vast majority of countries in the world with an outstanding growth rate in 2016 of 4.3%. That economy, Mr. Speaker, is our own – Antigua and Barbuda,” he reported. The prime minister said his government’s handling of the economy was a major factor in what he termed ‘this remarkable’ turnaround in the space of twoand-a-half year. He said the three principal drivers of the economy are all from government’s interventions in the economy. “There were three principal contributors to growth in 2016 – all arising from my government’s policies. These were: construction whose value-added rose by 12% to $274 million; the hotel and restaurant sector that increased by 6% to $408 million and the wholesale and retail sector that expanded by 8% to $402 million. “This Honourable House will recall my government’s pledge to build homes for the people of our country, recognising that home ownership and better quality housing were weaknesses in cont’d on pg 9
Monday 23rd January 2017 c a r i b b e a n t i m e s . a g 9 Gov’t joins in Chinese New Year celebrations By Justin Peters The Embassy of the People’s Republic of China, yesterday hosted a reception to celebrate the Chinese New Year, ushering in the “Year of the Rooster” A number of government officials attended the elegant function at the Lord Nelson’s Ballroom at the Sandals Grande Resort, including His Excellency Rodney Williams, Governor General of Antigua and Barbuda, Honourable Gaston Browne, Prime Minister of Antigua and Barbuda, Honourable Charles Fernandez, Minister of Foreign Affairs, International Trade and Immigration, Honourable E.P. Chet Greene, Minister of Trade, Industry, Commerce, Sports and National Festivals, Brian Stewart Young, Antigua and Barbuda’s Ambassador to China, and Ambassador Lionel “Max” Hurst, Chief of Staff in the Prime Minister’s Office, among others. Chinese Ambassador Wang Xianmin extended best wishes for the new year, lauding the progress made between Antigua and Barbuda and the People’s Republic of China. “The win-win cooperation between our two countries in the fields of politics, economics, education and culture has been deepened. The well-developed exchanges in all levels have been demonstrated through our deepened political mutual trust, fruitful cooperation in economic and cultured aspects as well as coordination on international affairs. “We both recognize the same principles of mutual respect and benefit in establish foreign relations, share the same concerns in the international arena, such as UN reform, climate change. We highly appreciate the unswerving adherence to the One-China Policy adopted by successive Antiguan and Barbudan Governments. “The fact has proved that the cooperation between the two countries comply with the fundamental interests of both Chinese and Antiguan and Barbudan”, Ambassador Wang stated. Minister Max Fernandez, Minister of Foreign Affairs and Immigration, stated the importance of the Chinese New Year, this year being the “Year of the Rooster” calling the People’s Republic of China, Antigua and Barbuda’s most international partner, as is evident by the number of concessionary loans and grants provided to the twin island nation, the first country in the region to establish diplomatic ties with the People’s Republic of China. He confirmed that the construction of the Chinese Embassy will begin in 2017 on 5 acres of land donated by the Government of Antigua and Barbuda as a landmark edifice not only in Antigua and Barbuda but the entire Caribbean. Prime Minister, Honourable Gaston Browne commented that the relationship between the two nations is currently at its Zenith and has significant scope to grow. He acknowledged the role that the People’s Republic of China continues to play in developing the socio-economic infrastructure, with the funding of several important projects such as the new V.C. Bird International Terminal, Sir Vivian Richards Stadium and the Five Islands Facility, both gifts to the people of Antigua and Barbuda, with commitments being made to fund the rebuilding of the Port Facility and a further $EC60 million towards the construction of several polyclinics in Antigua and Barbuda. The Prime Minister indicated that the Government values the relationship with the People’s Republic of China above all others. He committed to continue to work hand in hand with the People’s Republic of China to further strengthen the relationship the two countries share, to support China in the International forum and support the One China Policy. cont’d from pg 8 our human development,” he stated According to the prime minister the government established the National Housing and Urban Renewal Company Ltd. With a mandate to carry out the government’s housing policies, the corporation is managing housing developments at four different locations. Today, he noted NHURC has $120 million in assets without getting any financing from taxes. Other major developments include the extension of the pier at Heritage Quay and the further dredging of the St John’s Harbour to accommodate the Quantum Class of cruise ships. The prime minister announced an increase in budgetary allocations this year. “Recurrent expenditure including principal payments is estimated at $1.2 billion, which is about 6.6 % above the $1.1billion estimated in Budget 2016. Recurrent expenditure excluding principal payments for Fiscal Year 2017 is estimated at $769 million while recurrent revenue is estimated at $935 million,” he declared. The Ministries of Finance, education and health are allocated the largest slice of the budget. Capital expenditure for the year is forecast at $102 million. Most of this will go towards road development in keeping with the government’s intention to prioritize road expansion and improvements during the year.
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Caribbean Times 81st Issue

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