Prime Minister Dr. Terrance Drew, underscoring his government’s commitment to economic resilience and multi-sector growth, took centre stage at today’s Budget 2025 National Forum, emphasising that St. Kitts and Nevis’ path to a sustainable future lies in a diversified and adaptable economy.
Addressing a packed audience of government officials, business leaders, and civil society representatives, Dr. Drew highlighted the critical need to expand beyond traditional economic dependencies, such as the Citizenship by Investment (CBI) Programme, which under past administrations accounted for up to 70 percent of national revenue.
“To reduce vulnerability to global shocks, economic diversification is indeed a cornerstone of the government’s strategy to ensure that the economy is not dependent on a single sector but can be transformed into a multisectoral and broad-based type of economy,” said the Prime Minister.
Dr. Drew introduced additional details about the recently announced Sustainable Economic Expansion and Diversification (SEED) initiative, a key pillar of his administration’s Sustainable Island State Agenda.
SEED aims to build a foundation for high productivity, a service-oriented economy, and improved macroeconomic and fiscal outcomes. Dr. Drew underscored that “the SEED pillars promote the transition toward a high-productivity economy with a broad base, fostering economic growth and an improved standard of living.” According to Dr. Drew, these SEED initiatives align closely with the Sustainable Development Goals (SDGs), which his administration is determined to meet by 2030.
While acknowledging the importance of the CBI Programme, Dr. Drew urged a balanced perspective, saying, “Although the Citizenship by Investment Programme plays a significant role in advancing the development of St. Kitts and Nevis, it should not be regarded as the sole foundation for the nation’s growth.”
The prime minister’s forward-looking approach also includes a comprehensive plan for enhancing various sectors, from tourism to agriculture, to ensure economic resilience in the face of external challenges.
Dr. Drew also extended an invitation to citizens and residents alike to be active contributors to this transformative agenda.
“Let us harness the power of innovation, foster inclusivity, and pursue sustainability in everything we do. Together, we can build a future where every citizen, every community, plays a role in shaping a brighter tomorrow,” he said, rallying the nation toward a common vision of shared responsibility and opportunity.
The Budget 2025 National Forum provided a robust platform for strategic dialogue, with stakeholders from across sectors offering input on the policies needed to support St. Kitts and Nevis’ path to sustainable growth and prosperity.
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