St Kitts and Nevis Welcomes Economic Growth for Fifth Consecutive Year

28/11/2019 12:00

LONDON, Nov. 28, 2019 /PRNewswire/-- During a conference earlier this month, Prime Minister Timothy Harris announced that for the ninth month in a row, the dual-island nation of St Kitts and Nevis had accumulated a surplus for 2019. PM Harris says that fiscal management has remained a top priority for the government and that the island has welcomed several economic milestones credited to this commitment.

As a result, the Harris administration introduced several initiatives benefiting citizens of St Kitts and Nevis. One of them is the Poverty Alleviation Programme (PAP) which aims to help households earning less than EC$3,000 per month with a EC$500 stipend. PAP is sponsored by the country's Citizenship by Investment (CBI) Programme. Additionally, last year, the islands became the first independent state in the Eastern Caribbean Currency Union to align its debt-to-GDP ratio to international standards twelve years before the deadline.

This upward trajectory has continued on to 2019, the PM announced. "Using international economic classification, we recorded a surplus in our recurrent account, an overall surplus and a primary balance surplus. At the end of September 2019 the Federal Government's net fiscal position was significantly better than the budget forecast and the performance of the corresponding period of 2018," said Prime Minister Harris.

One of the main drivers of economic growth in the country is its successful CBI Programme. The initiative, introduced in 1984, empowers foreign investors and their families to acquire second citizenship after making an investment into the country's economy and passing all due diligence checks. The most direct route to St Kitts and Nevis' citizenship via CBI is the Sustainable Growth Fund (SGF), which enables the Citizenship by Investment Unit to confirm receipt of funds faster and more transparently – important to the Programme's integrity. As the name suggests, SGF has enabled the islands to fund sustainable growth initiatives including areas such as tourism, infrastructure, healthcare and education.

As the longest-standing CBI programme in the investment immigration industry, St Kitts and Nevis is generally known for offering the 'Platinum Standard' brand. The dual-island nation offers economic citizens benefits like security for one's family, stability in the face of uncertainty, and alternative business opportunities. With a constantly expanding economy, St Kitts and Nevis remains a top destination for those seeking to obtain a powerful second citizenship.

Contact:

pr@csglobalpartners.com
www.csglobalpartners.com

View original content:http://www.prnewswire.com/news-releases/st-kitts-and-nevis-welcomes-economic-growth-for-fifth-consecutive-year-300966588.html