BVI News

BVI economy showing signs of bouncing back — Premier Fahie

Despite the current economic strain brought on by the COVID-19 pandemic, the British Virgin Islands economy is showing signs of “bouncing back”.

Premier and Minister of Finance Andrew Fahie made that statement while speaking in the House of Assembly last Friday.

He also said his administration would soon unveil new areas designed to increase revenue streams in the territory.

This, he said, will be done while being mindful of the country’s expenditure; considering the revenues lost so far.

“We have to be vigilant and we have to also have to move towards the new initiatives. Many of them we have passed already, many more to come, and many more to be announced,” Fahie said.

He continued: “One of them I could say for sure I’ll be announcing is some of the adjustments we have made in a move to be more transparent and accountable during pandemics and catastrophic events. [This adjustment is in relation to] the usage of the petty contract system in an accountable manner.”

The Premier said the initiative is in an effort to “be able to bring our people along economically; even in the midst of COVID-19″.

“We have to be so cautious because we are balancing persons’ health [and] their lives versus their livelihoods in terms of the economy,” he stated.

Copyright 2021 BVI News, Media Expressions Limited. All Rights Reserved. This material may not be published, broadcast, rewritten or distributed.


Disclaimer: BVI News and its affiliated companies are not responsible for the content of comments posted or for anything arising out of use of the comments below or other interaction among the users.

  1. Crack says:

    Is this man is smoking crack? How exactly is the economy bouncing back? The BVI Stock Market on the rise? It’s currency on the world market is on the rise? Exports on the rise? Tourism on the rise? The financial sector on the rise? Employment on the rise? What a stupid statement to make. The only thing on the rise is the amount of money … sticking in their pockets. He makes all the population stupid by these remarks. He and his cronies need to be removed from office for his continuous l****g and b******l of the Virgin Island people. What a B****** he is.

    Like 51
    Dislike 6
    • Rubber Duck says:

      The biggest obstacle to economic recovery is the government. The biggest sector of the BVI economy is tourism. There are no tourists. Second is finance. Many of the people who run the finance business are stuck abroad and not allowed to return. New expertise can’t be imported because experts cannot come here. Consumers of the products of the service sectors, shops, restaurants, artisans and workmen are being shipped out.

      It shows how little understanding of basic economics this government has.

      Like 11
      Dislike 1
  2. Nonsense says:

    The economy can’t be bouncing back. All the money flows are internal.

    No external money is coming in so the economy can only be sinking.

    Like 29
    Dislike 5
  3. Okay says:

    Here we go again. What signs? Where are the numbers? I don’t believe a word of it until I see some numbers. Tourism is down until further notice, persons have been claiming unemployment benefits, financial services holding on. So what are the signs??

    Present proof otherwise it’s just pure political posturing, and blowing hot air.

    Like 30
    Dislike 2
  4. Lost Lemon says:

    No brother! No, no, no! Saying this makes you look a fool! You are killing us, nothing bouncing back! We only sucking on our own blood right now, if you do not look at a balanced way of opening up we all going down. Private sector already dying, when that happens Government ain’t far behind. When Government is broke then you will know the true pain and it will be too late for us all.

    Like 38
    Dislike 3
    • 2cents says:

      total foolishness. need to reopen, that’s how things bounce bank. all they are doing is re circulating the same money.

      Like 14
      Dislike 1
    • Wondering says:

      Yes, those government employees are living high on the hog, buying property with no stamp tax, (imagine and I have to pay $3.00 for a can of dog food). And those govt. workers acting like they don’t need to wear masks. . . Well Covid19 may do more damage to the BVI bcos too many masks are off. When Govt runs out of money I would laugh except they’ll probably go take SS money to continue their ashishness. Life as we knew it is over, folks. NWO people and the Left believe if you tell a lie often enough, it becomes truth. I pray the we are smarter than the average American sheep, and we know when we are getting a 6 for a 9. When gov. runs out of money the IMF comes and takes over your country. YOU hate the Augustus, just wait for IMF.

      Like 7
      Dislike 3
  5. No bounce back says:

    from this crisis.

    Borders closed, no capital projects, no UK guarantee, no foreign investment, this VIP is killing the last few opportunities.

    Like 25
    Dislike 3
  6. John says:

    Its bouncing back from the ceiling.

    Like 23
    Dislike 4
  7. 2 cents says:

    plus I think this is code for “we are not reopening any time soon” I wish they would just say it instead of throwing around the BS.

    Like 7
    Dislike 3
  8. Wolverine says:

    The Premier definitely thinks we all ate our school fees. What basis is he making his statement on, we would like to know.

    Moving forward, during The Constitutional Review we must demand that our Premier must be selected by the entire voting population, and not just by 300 plus persons in a district. He can fool those 300 but not 10,000 plus voters!

    Like 21
    Dislike 2
    • @Wolverine says:

      Agree 1000%. I support that notion for a new way to select the Premier. A leader of a party does qualify a person to lead a country. I wish we could all see that. Next election, I’m definitely abandoning the party voting for a coalition instead.

      Like 2
      Dislike 1
  9. :) says:

    Bouncing back doesn’t mean that we are doing great or as good as before, bouncing back in this case simply means getting better than a specific time period which I think he mean right after the lockdown where hundreds lost their jobs, people that had jobs were not working obviously due to the lockdown and many businesses weren’t making any revenue due to the closures. It is bouncing back in that aspect. I’m sure if you ask most business owner besides those that rely heavily on tourism they will say things are bouncing back.

    Like 6
    Dislike 8
    • @ :-) says:

      Stop trying to justify F***! The man is talking pure horse s**t, the Territory is STRUGGLING right now big time and the stimulus for businesses is only 4 months late and still in the application stage. The small businesses that need help wont see a dime until the peak of Hurricane Season, mid-Sep at the earliest. COVID issues started since March, go figure!

      Like 9
      Dislike 4
      • :) says:

        If your small business is still waiting on a check from government that means your business isn’t profitable. All other businesses needed was a relaxed curfew so that they can open up and provide their services and they got back on their feet. I stand by my statement only tourism based businesses are not bouncing back and certain night clubs. What’s stopping them from getting business right now. Dont blame Covid, The businesses that are struggling now were probably struggling before the pandemic.

        Like 4
        Dislike 4
    • Concern says:

      Wonder what school Andrew and Wheatley went to mabe they ate their school fees they’re using covid19 to promote their r agenda 1000 jobs in 1000 days that’s why they’re stopping work permits holders and exemptions from coming back into the territory

      Like 8
      Dislike 5
  10. ? says:

    yes island people not coming in to do business anymore they says to leave and that’s what we are doing so keep bouncing back we are going forward

    Like 7
    Dislike 4
  11. blind man says:


    Like 5
    Dislike 2
  12. Black Trump says:

    is speaking from the pulpit again!

    Like 3
    Dislike 1
  13. Potbelly says:

    The only thing bouncing back are the big bellies of the 13 politicians in the HOA.

    Like 9
    Dislike 2
  14. Stop the Madness! says:

    Numbers not 100% accurate but for the emphasis of this, they work.

    Population of 28000
    Previous job holders, 15000
    Jobs lost, 6-7000
    Cases of Corona, 9
    Deaths, 1

    Do the math, it’s simple.
    Transparency? What is the plan? How do you intend to have tourism open Sept 1? I’m scared for all of us, current administration is clueless and all of us are suffering. Wake up Fahie!

    Like 6
    Dislike 2
  15. Anonymous says:

    Mr. Premier, you talked quite a bit abot bouncing back, but actually said not much. I think we the people do deserve an explanation why you made that statement woth facts that we can u derstand that you chose to make this stand. Unfortunately we, the public, dont see it that way. Can we get a detailed explenation how you got to this conclution?!

  16. Lol says:

    Bouncing back as in throwing the down island people out he means; bouncing in back as in squeezing the little man 7% in sending monies put either to them families, the lil honies or the small business man paying for his goods overseas; bouncing back as in find ways to justify petty contracts for people whose jobs it seems as if them just have to criticize everything else but what they suppose to he doing; bouncing in back as in trying to raise monies off a instituting fees for ridiculous covid infractions while I may add the country still being on lockdown and finally bouncing back as in legco trying change the constitution to allow them greater power to do with the country as they please without having to answer to anyone; namely the governor.

  17. wtf says:

    Bouncing back he;s been bounced on his head too much, my place since reopening has made less than $12,000 in the past 3 months now it was expected to easily make $500,000 so what mushrooms he been eating!

  18. we i p says:

    Of coarse bvi bouncing back he have all the stimulus monies only give a small % out all the covid monies . Instead of giving us who need it they say we not qualified then turn around chasing us like we is animals out a here,go leave everything you work for all your benefits all you have in your name. EVIL man. Make trump look good rip my brothers n sisters heart out.

  19. Bouncing back says:

    “We bouncing back >> We bouncing back >>We bouncing back>>” That quote is taking from Aubrey Forbes.

  20. we .i. p says:

    Of coarse bvi bouncing back he have all the stimulus monies only give a small % out all the covid monies . Instead of giving us who need it they say we not qualified then turn around chasing us like we is animals out a here,go leave everything you work for all your benefits all you have in your name. EVIL man. Make trump look good rip my brothers n sisters heart out.

  21. Anonymous says:

    The haters will always bitch.. as in America we’re also claiming bouncing back from the worst while still being clobbered. And as for haters who choose to complain while not doing a damm thing to help we remind you our ports of departure are open. Go knock the hand pick governor who’s the head dog. Keep the faith and prevail my people.???️??

    Like 1
    Dislike 2
  22. nooooo says:

    No please Mr. Minister stop making such stupid statements. You sound like Trump. No one will trust you. Stop it please!

Leave a Comment