Our economy is not in a slump!
Premier Dr Natalio Wheatley has moved to defend the BVI economy, stating that there is enough activity to prove that the territory is financially stable and isn’t headed for a crash.
At a recent press conference, media owner and political commentator Cindy Rosan asked the Premier, “in light of the crime and recent burglaries, what is the plan to address the slump in the economy?”
“The slump…?” Premier Wheatley asked for confirmation.
“The economy is slow,” Rosan replied pointedly. “It’s not moving.”
In response, the leader said there is much economic activity in places like Peter Island, Norman Island and Nanny Cay. He also referenced the “soon-to-be-developed” Prospect Reef resort, saying it too will produce much activity in the community.
“We have lots of other initiatives on stream — you’ll hear some of them in the budget speech — that will help to stimulate the economy, small businesses and growth. But I don’t take it that the economy is performing poorly,” Premier Wheatley said.
Because of new rules that govern how the government spends, the Premier admitted that it might seem like the government isn’t spending much money in the economy as the procurement process is much slower than it was in the past.
Massive tourist arrivals expected
But the Premier said the economy keeps moving, adding that tourism is headed for a record-breaking year.
“This tourist season will probably be the second-best in history as it pertains to visitor arrivals. In 2016 we had 1.1 million visitors. We’ll see where we end up here but it most likely will be the second-best number we’ve ever had. So when persons make these statements (about economic slump) I’m not sure if they have the right information,” Premier Wheatley said.
It is quite difficult to tell how well the BVI’s economy is doing because the government does not release quarterly reports or statistics, which give that kind of information.
The annual budget statement in December usually details spending for the upcoming year and also gives figures which indicate how the economy performed in the last year.
Other than that occasion, residents have to rely on the assurance of elected leaders who have always had a positive outlook on the economy.
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well pay the people them there monies owed to them
Honorable Premier, I could see why you don’t believe the economy is in a slump when you are jetting around, staying in Monaco hotels that no normal human could ever afford, luxury first class flights for you and your entourage wherever you go, $250k parties to celebrate airline arrivals, the list goes on and on!
But let me tell you something – us in the private sector are sucking wind! Most of us, especially in the hospitality sector, have seen things get worse year after year since your covid protocols gutted the sector and your lack of engagement progressively continues to make things worse.
You live under a rock, with absolutely NO COMMITMNET, NO KNOLWEDGE, or any will to engage the businesses effected. You obviously have little or no concern which is aptly demonstrated by your very apparent blissful ignorance.
Let me be clear …… THINGS ARE NOT GOOD! You must engage with the private sector. Not just cherry-picking individual to go to meetings, such as your blue-eyed boys in North Sound, Virgin Gorda that suck up to you, blow smoke y=up your a$$, and know nothing about the plights of small businesses here in the territory. I am talking about meeting with the Mother and Father stores, restaurants, and hotels that are out there fighting for business every day. You know, the ones that actually vote, the ones you only remember every 4 – 5 years and grease a little to get those votes!! The same ones that also pay a bulk of the tax revenues into your coffers so you can piss it away on your worthless unproductive trips while reporting back NOTHING of substance for the Territory.
You, and your elected crew are too damn disgusting, and a disgrace to the people of this Country!
More hot air. Not a single measurable metric to back up what he is saying.
That is his way. Lots of repetitive words with no substance. With all those consultants who make more sense than him but one going own what he do so premier will not get those shine, 2 permanent secretaries and an envoy what is the sense of him being there? Premier to 487. I shame.
Our Minister of Finance. What was that PhD in again? So is he lying to us intentionally? Or just not competent?
BECAUSE ALL HIS FRIENDS HAVE JOBS INCLUDING ALL HIS *
All it takes is for 1 cruise ship visitor to be assaulted and robbed at gunpoint in the BVI and that part of the economy will crumble to nothing in a few weeks.
Well, well, well..I guess he is using the old belief, talk good and good will happen, speak it into existence. That’s the only logical reason for him fo bold facely lie to us..
If I was being paid handsomely, guaranteed $600K plus once retired, flying to UK, Monaco, New York monthly, all expense paid, 1st class, 5 star Hotels, I would think the economy is great too.
Premier, the economy is not in a slump, it is in the F**KING DUMP! You are talking about upcoming tourist season and it’s evident that you have never ran a business in your life. It takes money to prepare, stock and staff for any ‘busy’ season.
Lunie tunes. He’s lost it.
If we take out the number of cruise ship visitors (who spend next to nothing in the BVI), what is the increase in tourist numbers?
He’s right, it’s not in a slump, it’s DEAD, DEAD, DEAD!
Pile Higher and Deeper!
The comments, as usual, on this post, and others daily, are dismal portrayls of what a segment of of humans beings are wishing for this territory.
Every single comment on this post is one wishing the worst for the Tola that ost of them are living, earning, eating, living and sending money out of the country in.
What are those kinds of minds called?? Inquiring minds want to know.
Government income from financial services is in a long-term downward trend. Investment into the BVI is harder than almost anywhere else in the Caribbean. Infrastructure is crumbling yet there is no detailed plan to fix it. In short, a slump is just around the corner and there is no suggestion of how it will b averted. As there is no vision, the people will perish.
What is your idea of a slump and how deep must we go before it is called a slump.
Please control the price of goods coming in the port . The price of food is going through the roof . Mininum wage remains the same Think Mr Premier think
Soon we would not be able to buy foood
Think the premier is the BVI younger version of Joe Biden.
A drunk man notice that the street light are better when he is drunk, but when he is sober and notice reality, he still camouflage his thoughts. The foolishness! Constant robbery, killings,Road with pot holds, dusty streets, minimal wage, high house rent, limited access, crazy food price, high unemployment. Is this the way to a robust economy?
People who see and hide their eyes in the sand, prolong the foolishness.
OUR ECONOMLY MIGHT NOT BE A “SLUM” BUT OUR ENVIRONMENT SURE DOES LOOK LIKE ONE.
If the Premier thinks that projected future income means the economy today is in a good place then I understand why prospect reef is what it is. While the world is on thin ice the Premier of the BVI is bullish over some future projects he has up his sleeve that he cannot talk about right now. Ladies and Gents, this is the chap who wants self determination. I believe he does not know what it means.
I see lots of 99% of comments criticising the Premier, I see not a single comment criticising the territory.
Nat, you have been exposed!
Economy isn’t in a slump…. Just like his district isn’t either! What a waste!
Why are you not fighting for cannabis legalization. I havent heard not one word from the premier when he knows full well that people are unemployed and spending their last dollar on some sprayed down imported crap.
That dumb az slanderous mika barry said hes the biggest pot head in east now hes quiet? Own it!
Every single day a BVI family is paking up and migrating to England to live. What does that tell you sir?? And you fully well know that.
@yes,
The grass is greener on the other side, and taste a lot better. After Irma, many move their children there, and receive help from the government in thousands of pounds and other assistance. Fruits and vegetables are half price on certain days in London. Food price is affordable, clothing affordable. All NHS employees get discount. Here the foolishness still happens, no discount for students on families of school age children, no discount for hospital staff. NHI would never give collaborate with supermarket for NHI members to get at least 10%discount. So, they will continue to go.