St Kitts and Nevis Prime Minister: Construction Can Stimulate Economy

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Above: St Kitts

By the Caribbean Journal staff

Construction can provide a boost to the economy of St Kitts and Nevis, according to Prime Minister Dr Denzil Douglas.

He said his government has been undertaking an in-depth evaluation of construction-related investment projects in the country, a number of which have already been approved.

“Everywhere else in the world, construction is key to economic vitality” Douglas said at a private sector gala in Basseterre. “We can now state that not only will there be the rollout of these new projects, but we will also be in a position to point to the tangible results in terms of increased economic growth in fiscal year 2012 quarters 3 and 4.”

A recent report from the United Nations projected the country’s economy to grow by 1 percent this year.

Upcoming construction projects in the federation include the renovation of the Frigate Bay Beach Resort and the building of a new lecture hall at the Windsor University School of Medicine.

In early 2013, a new hotel will begin construction at Banana Bay on St Kitts’ southeastern peninsula.