Foreign Affairs Minister Alva Baptiste and Parliamentary Representative for Laborie has said he is confident that the Saint Lucia Labour Party (SLP) government for which he serves will bring economic recovery to the island.
Commenting on the state of the economy, Baptiste said Saint Lucia is not as bad as it was five years ago, and there were certain things that the SLP government inherited, such as the fiscal deficit, which led to the current situation.
“Every year you have students leaving school entering the job market, and obviously in an economy where you have to first address the fiscal deficit and try to expand employment as far as practicable, you will have some challenges,” he said.
The minister said government is not an employment agency, but facilitates an environment for people to be employed, and it has done a number of things to address the unemployment issue.
“Unemployment was 13.6 percent in 2006 when we demitted office, and within the space of five years, it was back in the 20’s when we took it down in 1997,” he added.
Baptiste admits that there is a marginal increase in unemployment, despite the fact that every year thousands of people are entering the labour market.
“I believe the government of the SLP is dealing with the objective reality of economic reconstruction in a positive way. We are definitely cleaning the mess that we inherited, to ensure that the economy is on a positive footing and improve the investment climate.”
He said one of the most important areas that is important in attracting Foreign Direct Investment (FDI) is maintaining and expanding the island’s physical infrastructure.
“Given our fiscal deficit in the economy, you do not have any surplus to invest in capital expenditure, which in itself is extremely important to enhance the environment,” he explained.
Baptiste said that is where his ministry comes in, to lobby support from others countries to get financing for projects that will ensure Saint Lucia’s physical infrastructure remains intact, and that assistance is other key areas are provided.
He recalled that after the 2014 Christmas Eve trough, the country attracted in excess of $10 million to assist in its reorganising plan from countries around the world. Hurricane Tomas did not attract such large assistance, according to the minister.