Financial Secretary Rosamund Edwards stated at a national consultation on ‘Rebuilding and Economic Partnership’ yesterday, at the Goodwill Parish hall, that government will have to prioritize some rebuilding projects over five-years.
She said shortly after the passage of Hurricane Maria, the government engaged in the conduct of a Post Disaster Needs Assessment. The results estimated the damage to be US$931 million or EC$2.5 billion; loss was estimated at US$380 million or EC$1.1 billion and the needs were estimated at US$1.4 million or EC$3.7 million. She explained that the figure relating to the needs could increase, adding that, “the value of the needs will only be costed, after we have defined the projects more clearly, and we enter into contractual arrangements”. In this regard, the government will seek to undertake work in year 1 valued at just under US$300 million; years 2 to 3 work valued at just over US$700 million, and years 4 to 5 work valued at US$221 million. Edwards said in order for this to be accomplished, each sector, including every person in these sectors, is required to get on board. Edwards also confirmed what had already been suspected, that GDP and revenue projections would have decreased considerably.
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