Finance Minister Skerrit stated during his Address on a proposed $993.6M National Budget, that the projected growth for 2021-2022 is approximately 253.3million dollars, to be funded by the CBI program Mr. Skerrit listed a number of projects to be undertaken, inclusive of an international airport which he says will be of great significance to our people. He says according to statistics, Dominica’s economic growth is expected to see increases of 8% by 2022. He then broke down some of the allocations of the 993.6M and said the youth and elderly are a serious focus for the Government. Ministry/Department Amount (000's m) % Office of the President 1.0 0.2% Integrity in Public Office 0.5 0.1% Public and Police Service Commission 0.5 0.1% Legislature 1.2 0.2% Audit Department 1.2 0.2% National Security and Home Affairs 54.7 8.4% Elections 2.7 0.4% Trade, Commerce, Entrepreneurship, Innovation, Business and Export Development 2.1 0.3% Office of the Prime Minister 12.6 1.9% Finance 266.1 40.9% Blue and Green Economy, Agriculture and National Food Security 8.6 1.3% Education, Human Resource Planning, Vocational Training and National Excellence 77.0 11.8% Housing and Urban Development 3.9 0.6% Health, Wellness and New Health Investment 59.9 9.2% Environment, Rural Modernization and Kalinago Upliftment 9.3 1.4% Tourism, International Transport and Maritime Initiatives 18.1 2.8% Sports, Culture & Community Development 13.5 2.1% Economic Affairs, Planning, Resilience and Sustainable Development, Telecoms and Broadcasting 4.6 0.7% Establishment 8.2 1.3% Public Works and the Digital Economy 58.9 9.1% Foreign Affairs, International Business and Diaspora Relations 19.9 3.1% Cabinet Office 3.7 0.6% Youth Development and Empowerment, Youth at Risk, Gender Affairs, Seniors Security and Dominicans with Disabilities 19.4 3.0% Governance, Public Service Reform, Citizen Empowerment, Social Justice and Ecclesiastical Affairs 2.4 0.4% GRAND TOTAL 650.0 100.0% Prime Minister, Roosevelt Skerrit
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Coming together in a collaborative effort creating a functional cooperation amongst our indigenous banks will see great benefits for our regional economy. That’s the view expressed by Governor of the ECCB Timothy N.J Antoine, speaking on solutions to some of the challenges being faced amongst our banks during this pandemic.He says this collaboration spreads the costs and lowers risks, while improving the services. Governor of the ECCB, Timothy N.J Antoine
The Retirement age benefits for our people in Dominica need serious adjustments. That’s according to General Secretary of the Dominica Public Service Union (DPSU) Thomas Letang, speaking on Last Evening’s DPSU Program. Mr. Thomas says there needs to be more collective unity in these types of issues and discussions as they affect everyone of us. DPSU General Secretary, Thomas Letang. Meantime, President of the DPSU Steve Joseph says very few people are now pursuing public sector type employment, and those who are part of the public sector who feel that they may need to leave work before pension age, should be given the option of early leave if they’re deserving of it. President of the DPSU, Steve Joseph
On July 25, 2021, the West Coast Cooperative Credit Union held its 16th Annual General Meeting at the Salisbury Primary School in the community of Salisbury.The Board of Directors through the Chairman announced a historic 10% dividend on shares for the first time in the society's history. Members welcomed the news with great excitement and expressed renewed confidence in the society.
In delivering the Board of Director's report, the President of the Society Mr. David Fritz indicated that 2020 was a pivotal year for the Credit Union.The pandemic caused unprecedented economic challenges that the society continues to evaluate to ascertain its short and long-term impacts on the society. Operating within an interconnected financial space, the society's continued success hinges on its understanding of the challenges, and its ability to implement the right strategies to meet and manage them for continued success. Based on performance, the society successfully contained cost, managed delinquency, increased revenue and profitability, resulting in growth in all key areas assessed. Total assets grew by 6.3%, Originated loans by 1.5%, Members’ Capital by 5%, Equity by 24.4%, Retained Earnings by 31%, and Members’ Savings by 4.5%, resulting in impressive growth in the total asset from 43M to 46M. The society recorded a surplus of $1.1M representing 16.9% growth from the previous year. While there has been sustained and steady growth in the Loans portfolio in the last five years, for the 2020 period under review, the Originated Loans portfolio grew by 1.5% from $31.67M to $32.13M. Members were again encouraged by all presenters to continue the conscientious effort of repaying their loans, as this action demonstrates a commitment to the institution's growth and development. The excellent performance of the society is very evident when compared to the best practice standards of Protection, Effective Financial Structure, Asset quality, Rates of Return, Liquidity, and Signs of Growth as contained in the PEARLS ratio.To date, the Credit Union has effectively maintained the continuity of services to members and a rich product portfolio that meets their current and evolving needs. This is thanks to the hard work and commitment of the Credit Union’s Volunteers, Managers, and Staff, as well as collaboration between Credit Unions, says the General Manager of the Society: Mr. Erickson Robinson. With a growing membership pool of 4,744, the credit union has demonstrated strength in operational and financial resilience, supported by robust risk management, that is expected to strengthen the credit union’s business model & drive growth in the future. This Notion of Digital Transformation touches and concerns all sectors in our economy, it's not just a young person thing.This from the Governor of the ECCB Timothy N.J. Antoine.Mr. Antoine was driving home the Importance of embracing and adapting to this new digital era. The world as we know it is continually changing, and one of the fundamental drivers is digital transformation. At its core, digital transformation isn’t about Internet “unicorns.” It’s about using the latest technology to do what you already do – but better. The digital economy is the economic activity that results from billions of everyday online connections among people, businesses, devices, data, and processes. The backbone of the digital economy is hyperconnectivity which means growing interconnectedness of people, organisations, and machines that results from the Internet, mobile technology and the internet of things (IoT). The digital economy is taking shape and undermining conventional notions about how businesses are structured; how firms interact; and how consumers obtain services, information, and goods. Governor of the ECCB, Timothy NJ Antoine
Dr Valda Henry said her current position as CEO of VF Inc, will become vacant in September 2021, upon taking up her role as Deputy Governor of the ECCB. Speaking with Q95 news recently, Dr. Henry said VF Inc will be left in capable hands. Dr. Valda Henry explained that the new CEO will have the full support of the existing staff which is extremely capable and reliable. Outgoing CEO of VF Inc and now Deputy Governor of the ECCB, Dr. Valda Henry.
The results are in, for the Pioneers Athletics Club ‘Ninth Edition of the Fox mile run’, which was held on July 25, 2021. The event brought together seventy runners and the route began from Citronier to the Roseau Bayfront, near the General Post Office. Mark Maguire Suarez of the Pioneers Athletics Club won the event for a second consecutive year. Second place went to Talmond Uceline of the Kalinago Eagles and third place went to Jonathan Celestine of the Pioneers Athletics Club. President of the Club, Cedric Harris, spoke to Q95 news on Wednesday. Harris says the adult Females also gave a ‘top notch’ performance at the event. Cedric Harris continued further: President of the Pioneers Athletics Club, Cedric Harris.
Tourism Director, Colin Piper says Dominica has been ready to welcome cruise ships to the island through a series of training sessions for stakeholders, and by developing a comprehensive set of protocols focused on keeping both cruise passengers and residents safe.Dominica welcomed the MV Seaborne Odyssey to its shores on Tuesday, the first cruise ship on island since COVID-19 over 1 year ago. Tourism Director, Colin Piper.
We can feed ourselves, and still have 400M savings by the End of 2023, says Governor of the ECCB Timothy N. J Antoine. He highlighted the reason for, and the importance of, using technology and marketing to aid in agriculture and fishing to better assist persons in their day to day lives. Governor of the ECCB, Timothy N. J . Antoine.
CEO of DASPA Mr. Benoit Bardouille claims the arrival of Cruise Ship 'Seabourn Odyssey’ in Dominica’s Shores on Tuesday is a sign that Dominica is a safe Destination. His statements came as the Tourism Season officially kicked off yesterday, with its first cruise ship carrying 153 passengers, since the beginning of the Pandemic. Bardouille says this is an opportunity to provide much needed jobs for the Tourism sector. CEO of DASPA, Mr. Benoit Bardouille.
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