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Economy performing well post hurricanes –Premier Smith

Premier, Dr D Orlando Smith used the occasion to allude to the return of the major cruise line ‘Disney Fantasy,’ as key to the gradual recovery of the VI. Photo: VINO/File
Asked if there are any ‘takers’, for possible investment in the airport runway expansion, Premier, Dr the Honourable, D. Orlando Smith, responded saying, “I have no details but I understand that there are interests.” Photo: VINO/File
Asked if there are any ‘takers’, for possible investment in the airport runway expansion, Premier, Dr the Honourable, D. Orlando Smith, responded saying, “I have no details but I understand that there are interests.” Photo: VINO/File
ROAD TOWN, Tortola, VI – The Virgin Islands' (VI) Chief Legislator with responsibility for its Finances, outgoing Premier and Minister of Finance, Dr the Honourable, D. Orlando Smith (AL), says the Territory is doing well, in its comeback after the devastation of hurricanes Irma and Maria.

“I will say this, that the economy has actually performed quite well, in fact our Financial Services have performed better than we expected and our Tourism is showing promises of coming back…So far I am pleased about the way the economy is responding since Irma and Maria.”

He gave his position during a recent One-on-One with the local press on August 29, 2018.

40% Blow  

As a result of the tragic events, the VI lost about 40 per cent of its Gross Domestic Product (GDP), or annual earnings—a significant blow to the economy, Premier Smith said.

“We had to seek loans to finance our budget…We had a $50M loan to finance the budget from the Caribbean Development Bank (CDB), we also had what you call a recovery loan, which we are still working on at the moment and several other small loans immediately after the crisis.”

Premier Smith has also been pushing for Public/Private Sector Partnerships (PPP), as one area, key to the revitalisation of the of the domestic economy.

He told reporters, he has been getting some assurance of PPP cooperation, especially in the hospitality sectors.

Partnerships

He said too, “in other areas we are looking at PPP and that is for example in the lengthening of our airport runway and that’s very significant because we see that as one of the important things in helping, in the next step, in helping to build the economy through the tourism sectors.”

Asked if there were any ‘takers’, for possible investment in the touted airport runway expansion, Premier Smith responded saying, “I have no details but I understand that there are interests.”

He used the occasion to allude to the return of the major cruise line ‘Disney Fantasy,’ as key to the gradual recovery of the VI. 

While Dr Smith has praised the performance of the VI's economy following the 2017 hurricanes, many are still homeless and  unemployed, while many residents continue to struggle to pay bills and survive, both financially and otherwise. 

13 Responses to “Economy performing well post hurricanes –Premier Smith”

  • Truth (03/09/2018, 11:28) Like (20) Dislike (0) Reply
    "While Dr Smith has praised the performance of the VI's economy following the 2017 hurricanes, many are still homeless and unemployed, while many residents continue to struggle to pay bills and survive, both financially and otherwise."
  • HmmI (03/09/2018, 11:33) Like (33) Dislike (2) Reply
    I Swear on everything.....this man is psychotic....Father send help
    • Hmmm (03/09/2018, 16:01) Like (22) Dislike (0) Reply
      I agree with you - the dude is flat out delusional! Better to stay silent and be thought a fool, rather than to open your mouth an erase all doubt!
  • Ok now, (03/09/2018, 12:59) Like (36) Dislike (8) Reply
    Y’ll need to exit the stage and make a date for early election so we can progress even faster. We don’t trust any of you; y’ll collectively have been a total disappointment to the entire BVI. Close the doors behind y’ll so more paperwork does not show up missing. Heads-up!
  • Windy (03/09/2018, 13:37) Like (26) Dislike (0) Reply
    HUH ? Maybe "your" economy (pockets) are well. not the rest of us
  • Political Observer (PO) (03/09/2018, 15:18) Like (37) Dislike (3) Reply
    “I will say this, that the economy has actually performed quite well, in fact our Financial Services have performed better than we expected and our Tourism is showing promises of coming back…So far I am pleased about the way the economy is responding since Irma and Maria.” The Premier also stated that economy was robust before the storms when a Ray Charles could clearly see that the economy was in decline. This is the same twisted and senseless information that is peddled in George Orwell’s Animal Farm, and 1984. The Premier seems to be adopting Trumpism nonsense. Has the Premier toured the territory recently, including the sister islands? If so he needs, to visit with Dr. O’Neal for some new specks mehson. The territory is in crisis and our current government leaders seems to lack the capacity to make things happen. A new captain, pilot, driver, shepherd...........etc is needed to lead us out of this crisis. Call election now and give voters the opportunity to vote for a new government. The HOA was prorogued so there was hope that election was nigh. But no. The HOA is scheduled to meet soon. Oh well, it look as if the NDP is going to milk the last second out this ting.
  • Orlandos' neighbor (03/09/2018, 16:55) Like (4) Dislike (1) Reply
    There's martians grazing in his backyard.
  • Arrion (03/09/2018, 18:50) Like (17) Dislike (1) Reply
    Rich people always think the economy is doing well because they don’t feel it. Common sense would be to ask the people in a town meeting how they feel about this lie. No, it will never happen because they don’t care. People still have no roof, walls, floors, water, jobs, food, apartments etc, so so many. My goodness, this is dilution at it worse. I have lost all respect for him.
  • biker (03/09/2018, 19:00) Like (8) Dislike (1) Reply
    There was this movie a few years ago named '2012' In one scene the governor of California was on the radio telling his constituents not to worry about all the cracks in the ground stating that the 'worst is over'. In the next scene the whole state fell into the Pacific Ocean. Is the BVI next??
  • another doctor (03/09/2018, 20:12) Like (8) Dislike (0) Reply
    he needs to stop snorting the goat turds.
  • Figures (03/09/2018, 20:47) Like (12) Dislike (0) Reply
    Show me figures. Show me stats. Then we talk. You can't judge the economy by looking at a few people shopping 1mart
  • @PO (04/09/2018, 14:16) Like (1) Dislike (2) Reply
    what is Trumpism? the usa is doing very well. the bvi not very well. is you a fool?
  • Davis (04/09/2018, 17:34) Like (1) Dislike (0) Reply
    Let our premier Dr Orlando retire and enjoy the remainder of his life in peace and in a stress free environment, he has done his best and its time for him to step down, lets thank him for his hard work and dedication. Also not to mention keeping Lorna in her new designer shoes.
    In my humble view, all elected individuals involved to the BVI have been corrupt from the start, i guess only following the pattern, never the less we are not moving ahead by living in the past. Its time to start with a new beginning. No more government contracts for cousins or relatives who don't know the first thing about the job they have been hired to do leaving the county in debt.
    Let our Governor run the country for a while and lets see which direction things take, our previous governor insisted and ensured the police got more funding and now we see the results... We have too many skeleton's in the closet and need an honest reliable person in charge with the view...is this the best option for the country and its people, not what shall I gain from this.
    We all need help!! Rich or poor- Really, we are being screwed by new taxes, immigration policies, landlords not being monitored, we need help and assistance with all aspects, it really doesn't matter where we come from or who we are...born here is a thing of the past since Irma broke our golden egg.
    No town water for days, still schools under tents, raw sewage on the roads, sargassum stinking up the place..
    Every day more people are leaving from all walks of life, too much stress, smoke from Pockwood pond making us sick yet we bill an environment fee upon arrival, no NHI paid as no jobs so no health coverage, bad roads, powers issues, crime on the up....the list could go on.
    What is happening, I feel we have no hope.


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