Dy PM Shawn Richards: SKN growth rate above global average with 3.5 percent

Small Caribbean island St Kitts and Nevis’ budget was presented before Parliament by Prime Minister Dr Timothy Harris, later which the several ministers and Parliament members participated in the Budget 2020 debates.

Deputy Prime Minister of SKN, Shawn Richards said during debate on 19 December that the country is projected to have an above-average growth rate of 3.5 percent in the year 2020, besting most Caribbean and Latin American nations.

During his address, Dy PM said, “It says globally, the growth rate is expected to be 3.4 percent and the average for Latin America and the Caribbean is expected to be 1.8 percent. Whereas, SKN is expected to be at the same 3.5 percent again above the global average and above the average of Latin America and the Caribbean.”

He also added that when we compare other Caribbean islands to St Kitts and Nevis, we are performing way better than any other island.

It is evident that in the year 2019, SKN’s expected growth rate was also recorded at 3.5 percent, which is higher than any of the Caribbean countries with the exception being Antigua and Barbuda, which recorded highest at 4.0 percent growth rate in the whole Caribbean.