St. Lucia to launch Economic Recovery and Resilience Plan

Government will soon formally launch Saint Lucia’s Economic Recovery and Resilience plan designed to stimulate overall economic activity.

The plan is borne out of an aggressive and engaging multi-faceted stakeholder process, encompassing public and private participation including representation from trade unions.

Over thirty agencies including, the Chamber of Commerce, banks and credit unions were engaged for their feedback, support, and contributions in the formulation of the Economic Recovery and Resilience Plan.

Chief Economist in the Department of Finance, Janai Leonce, said though the plan takes into account short, medium and long term initiatives, emphases will be placed on the immediate to short term gains over the next six months.

Mr. Leonce says ‘We also had discussions on food security, agro-processing, and also lending to the SMEs. So cognizant of those the plan is going to have some of those elements in there. So persons would hear or see part of the government’s plan to incentivizing the offerings on financial support to SME’s and to also repurpose some of our donor funds towards stimulating agro-processing and also stimulating the adoption of digital technologies.”