Economist, Dr. Thompson Fontaine says Dominica’s economy has been on the decline for nearly a decade, and added that banks here are beginning to think outside of the norm to generate income for their business.
He says these radical packages or offers being presented to customers here in Dominica from the banks is evidence that the economy is failing, as majority of citizens no longer have the spending they once had.
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Fr. Herman Sharplis, priest for the parish of St. John has announced the date for the annual Grand Parish Bazaar, and is inviting everyone to support the event.
He says this major event begins with mass on July 31st 2016 and over 15 stores will be opened with a variety of products on sale ranging from clothes to food. Opposition Leader, Lennox Linton, is once again expressing his concern over the non inclusion of the opposition in this year's budget preparation.
Linton, in his rebuttal to PM Skerrit's 2016/17 budget report Tuesday, said while the Prime Minister has agreed that development is about the involvement of all, no provision was made for the parliamentary opposition at stages of the budget preparation cycle. Linton believes that in matters like these, collaboration is required to construct a transparent and comprehensive plan to deal with Dominica’s economic and social issues. UWP hosts well anticipated “1,000 Patriot March” today, to highlight social and economic injustices7/28/2016 The opposition United Workers Party (UWP) will host its highly anticipated “1,000 Patriots March” today, against what the party leader, Lennox Linton calls social and economic injustices in Dominica. The march which starts in Roseau, will culminate in a public meeting at Lindo Park in Goodwill, today 28th July, from 4:30 pm.
Linton says “This is a march for jobs, for justice, for improving the quality of life, reduction in the cost of living, electoral reform, and for so many things that we want to see happen in Dominica that are not happening. It’s a march against child abuse, against the abuse of government funds, and the lack of transparency that we see in the handling of our monies from the sale of passports.” Linton noted that there are a number of things that are injuring the interest of the people of Dominica, and is calling on them to stand up, and take advantage of the opportunity to let their voices be heard during the “1,000 Patriots March” and at the meeting thereafter. He added that patriots from the north-east will also join in the march to further raise their concerns over a new National Hospital in Marigot. He said “The people of the north-east are enraged about this, and will be coming down on Thursday to show their disgust. There are a number of things that are upsetting the people of Dominica, and it is important that people let those in government know, that what they are doing is absolutely unacceptable.” Opposition Leader disappointed with the small 2016/2017 budget allocation for the Marigot hospital7/28/2016 And Opposition Leader Lennox Linton says he is disappointed with the allocations allocated to the Marigot hospital in the 2016/2017 budget.
In his response to the Finance Minister’s Budget address presented yesterday (Tuesday), Finance Minister Skerrit stated only, that “designs for the Marigot hospital will be formulated” during the fiscal year. Linton says in that fourteen word “announcement” by the Finance Minister, there is no way to tell when the people of Marigot and the North East region of Dominica, will see the beginning of a new hospital. The DLP Government is revisiting its earlier talk of establishing a reliable shipping service for agricultural produce and vital commodities to neighbouring islands. Prime Minister Skerrit says plans are progressing rapidly to begin this operation before the end of this year, and he expects to be in a position to announce the commencement of this venture by November.
He says the Government is currently in discussions with external private sector interests and entrepreneurs in that regard. DHTA welcomes measures increased allocations in 2016/17 budget, to boost the local tourism industry7/28/2016 The Dominica Hotel & Tourism Association (DHTA) is commending the Government on the increased allocations for Tourism, as announced in the 2016/17 budget address, which describes the increase as a measure to boost the tourism sector.
Among the measures are, a $15-Million low-interest facility to target the upgrade or expansion of existing hotels, with a 3% rate of interest, and a 1-year grace period on interest and principal. In conjunction with the low-interest facility, the Government also approved critical adjustments to the fiscal incentives regime, to support reinvestment in the upgrade or expansion of existing hotels. The overall destination marketing budget was increased to $8.5 Million. DHTA President Gregor Nassief says this demonstrates Government's commitment to tourism. Nassief said “These measures, in our view, demonstrates the Government’s commitment to tourism, as a key driver of the country’s economic development, and to the on-going need for extensive public-private sector engagement and partnership, in moving the country forward”. The DHTA also notes the adjustment of the VAT registration threshold, which they say will directly benefit small businesses involved in tourism. Trade, energy and employment Minister Ian Douglas, is attempting to advise the opposition, on how to do their job.
He told them that the responsibility of the opposition is to bring concrete proposals for implementation during the fiscal year, rather than focusing on financial scandals worldwide. Opposition Leader, Lennox Linton, says the global banking system cannot be fooled by governments that offer Citizenship By Investment, to persons of corrupt practices.
He emphasized that due to the way these countries operate, global leaders and owners of financial institutions, will hold the countries in question under suspicion. UWP Leader disappointed at the lack of aggressive renewable energy initiatives in 2016/2017 Budget7/28/2016 In response to the 2016/2017 National budget presented by Finance Minister Skerrit on Tuesday, UWP Leader Lennox Linton said “We are disappointed that the budget did not contain aggressive moves toward utilization of renewable energy”.
Linton noted that although allowances were made for geothermal exploration, no other alternative sources of renewable energy were mentioned. He said “We’re hearing something now about geothermal, but we’re not hearing anything further about geothermal energy, on which we’ve already spent thousands of dollars. We’re hearing nothing about wind, and we’re not hearing anything about solar.” In presenting the budget at the 1st Meeting of the 2nd Session of the 9th Parliament on Tuesday, Skerrit revealed a budgetary allocation of $46.3 Million for construction of a domestic geothermal plant, through a Special Purpose Vehicle (SPV), over a 2-year period. Skerrit stated that the cost will be met from local and grant resources. “We will establish a company wholly owned by the Government, to build a 7-megawatt geothermal plant in two stages; 3.5-megawatt each”. Skerrit announced that the long-awaited Geothermal Development Bill, which will establish the legal framework for the development of geothermal energy in Dominica, will be submitted to Parliament at its first sitting after the Budget. The DLP Government has spent over $80-million exploring geothermal potential. However, in 2012, former Energy Minister Rayburn Blackmoore said construction of the plant would begin in the first quarter of 2013. Also in 2012, Prime Minister Skerrit told parliament that Dominica could have a geothermal power plant in operation by 2014. In March 2015, Energy Minister Ian Douglas said a draft Geothermal Bill was nearing completion. Douglas said the construction of a small geothermal plant is to begin by 2017. In April 2016, Prime Minister Skerrit emphasized Government’s commitment to the harnessing and development of geothermal energy in Dominica. |
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