Our priority for the economy is to create a stable environment as a basis for growth.
These are some of the highlights of what we have achieved:
- Record Net International Reserves
- Stabilised exchange rate
- Three years of lowest-ever inflation, leading to containment of price increases
- A financial sector on the way back to full recovery
- A Depositorsí Protection Insurance Scheme
- The creation of FINSAC to protect the savings of thousands of savers' deposits and insurance policy-holders
- Successfully negotiated IMF Staff - Monitored Programme without onerous pre-conditions
- Financial support from Multi-lateral institutions without returning to IMF borrowing
- Signs of growth in tourism, construction, agriculture and the services sector
- Successive increases in the Income Tax threshold have relieved over 300,000 persons from paying Income Tax.
These achievements have allowed the Government to defend the local currency, reduce inflation and raise loans on the international financial market.