Brace for inflation, hardships coming out of Ukraine invasion– Hon Rymer
These comments came during a Friday, February 24, 2022, interview on a number of public issues in the VI where the premier warned that economic hardships could come as told by US President Joseph R. Biden.
Conflict could impact VI - Hon Rymer
"This is not going to be something or I or anybody here in the BVI will be able to control, that is going to be difficult, but we have started some things that can help, that's why we went green and that is why we are going green," the Premier said in response to concerns that a hike in fuel price will spark high electricity costs.
Hon Rymer, addressing the concerns, added: “Like the Premier mentioned, the president of the United States has told his people to brace for inflation and some hardships, so yes we will see it.”
He said measures will; however, be taken locally to mitigate the effects. “The Government will discuss measures and try to put measures in place as to how we will make things easy for the people of this territory.
Green energy is the way - Premier
Meanwhile, Premier Fahie said with expected hikes in electricity costs, the conflict does not increase the cost of the sun which is free.
"We have shown that we wanted to deal with these matters, being proactive, not even knowing about a war in Ukraine," the Premier said while pointing to measures to encourage the use of green energy.
The government in mid-2021 implemented a two-year tax exemption on a number of renewable energy products, as part of the BVI Going Green Initiative, which aims to save the territory millions of dollars in the coming years.
The categories eligible for exemption include Renewable Energy in Solar, Renewable Energy in Wind, Renewable Energy in Other Systems; Energy Storage; Energy Efficiency Equipment; and Transportation.
"We have been going green, and now people will see that this was a good proactive move," Premier Fahie said on February 24, 2022.
He also indicated that the territory will look into regional trade with the Caribbean, given the region has a lot of untapped resources.
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20 Responses to “Brace for inflation, hardships coming out of Ukraine invasion– Hon Rymer”
So Since you know that this is coming, the Government should wait . No Political Advisers, No Consultants, No new projects that`s not urgent. no creation of new jobs for selective few. just to name a few.
We all will have to work together if this happens.