By Admin. Updated 5:00 a.m., Friday, August 19, 2022, Atlantic Standard Time (GMT-4).
Press secretary to the prime minister, Mr. Sehon Marshall has provided information to the media which he says dispels untruths about this country’s economic performance in the Covid-19 pandemic year of 2020.
In a statement circulated to the media on Thursday night, Mr. Marshall said:
“Recently, the opposition New Democratic Party (NDP) and some of the leaderships of two public sector unions in St. Vincent and the Grenadines have been pedalling the untruth — the BIG LIE — that from the onset of COVID-19 in the year 2020, the Unity Labour Party (ULP) government mishandled the pandemic in social and economic terms.”
Marshall said, however, that SVG performed better than all CARICOM countries except Guyana during the COVID year 2020.
He said: “One critical indicator of the government’s handling of the pandemic relates to economic performance measured by the growth in Gross Domestic Product (GDP) during the first year of COVID (the year 2020). The relevant data from the authoritative United Nations Economic Commission for Latin America and the Caribbean (UN-ECLAC) was published in its Preliminary Overview of the Economics of Latin America and the Caribbean, 2021.”
“On page 128 of that publication there is a Table A1.2 under the heading “Latin America and the Caribbean Annual Growth Rates In Gross Domestic Product (Constant Prices)”.
This Table lists the Caribbean countries and their growth rats as follows:
The rest of Mr. Marshall’s statements are as follows:
“The data above show that tourism economies such as Antigua and Barbuda, Bahamas, Barbados, and St. Lucia were badly hit. The data also show that countries with relatively small tourism sectors such as Belize, Dominica, and Suriname were also badly hit. More diversified economies like Jamaica and Grenada were also badly hit. The energy (oil and natural gas) economy of Trinidad and Tobago also recorded substantial negative growth. Only Guyana, with its new-found oil production and export, grew, and did so at a huge rate (43.5 percent).”
Mr. Marshall said: “Incidentally, all Latin American countries recorded negative economic growth rates in 2020, ranging from a low of -0.6 percent in the case of Paraguay to -17.9 percent in the case of Panama. The Latin American “economic giants” recorded negative growth rates as follows: Argentina (-9.9 percent); Brazil (-3.9 percent); Chile (-5.8 percent); Colombia (-6.8 percent); and Mexico (-8.2 percent).”
“In St. Vincent and the Grenadines, the ULP did not follow the advice of the NDP to impose “draconian Chinese measures”. Instead, the ULP government kept the country open with sensibly targeted restrictions. Moreover, the ULP government’s socio-economic and health policies ensured that the wheels of the economy kept turning as best as practicable in the circumstances,” Mr. Marshall’s statement added.
“Similarly, the government also acted prudently and enterprisingly in 2021 in the year of COVID, volcanic eruptions, Hurricane Elsa, and increasing global turmoil. In 2021, the GDP growth outturn was positive at 1.3 percent because of a relatively productive second half of the year; the first half with the volcanic eruptions had an annualised prediction of minus 6 percent. Thankfully, the second half of the year improved matters,” Mr. Marshall stated.
“Let us stick to the facts and not the NDP lies!,” Mr. Marshall’s statement added.