Above: Charlestown, Nevis (Photo: Caribbean Journal)

By the Caribbean Journal staff

The economy of St Kitts and Nevis is projected to grow at a rate of 1.5 percent his year, with a slightly higher rate in 2012, according to the federation’s government.

“Several projects are ongoing and even though they may be progressing at a slower pace than originally anticipated, we are thankful that none of them have been discontinued,” Prime Minister Denzil Douglas told the National Consultation on the Economy at the St Kitts Marriott yesterday. “In the end, these projects will bring much-needed hotel rooms to the Federation so that we can approach that critical mass that makes the sector more sustainable.”

Earlier this week, the government announced it would be getting an energy boost from the government of Taiwan, which is installing solar panels at St Kitts’ government headquarters. https://www.caribjournal.com2011/09/07/taiwan-funds-st-kitts-solar-project/

Douglas said he believed the implementation of a value-added tax in November 2010 was a success, despite some opinions to the contrary both domestically and internationally.

He also announced the government was in the process of restructuring its pubic debt.