BVI News

Premier says BVI economy performing within expectations

Premier Andrew Fahie (BVI News photo)

Premier Andrew Fahie has said the BVI economy is performing as expected given the global COVID-19 pandemic, which has been affecting the territory.

Recently, Anguilla — a British Overseas Territory declared that it will be seeking financial assistance from the UK because of the economic fallout it is experiencing because COVID-19.

Similarly, Turks and Caicos (TCI) Premier Sharlene Robinson recently said the territory was heading for a recession while TCI Governor Nigel Dakin signalled they will need to borrow “many hundred million dollars” because of the economic contraction induced by COVID-19.

In light of the state of the economy in these sister territories, BVI News asked Premier Fahie to reveal the true state of the economy and to say whether the BVI is facing a similar economic situation as neighbouring OTs.

In response, Premier Fahie said: “The BVI is not immune to the effects, financially and otherwise, caused by the worldwide health pandemic COVID-19. Weekly monitoring is being done and thus far the BVI is performing within expectations given the conditions as a result of COVID-19.”

He did not specify what those expectations were but said the December 1 reopening of the territory will provide further economic stimulus for the economy.

“That’s our focus at this time. COVID-19 has challenged all economies worldwide. The BVI insteads to remain steadfast in purpose and diligent in actions,” Premier Fahie said.

The territory, like all other countries worldwide, has faced economic contraction because of COVID-19. However, the government hasn’t given any figures that would show the economic deficit that has been created because of the pandemic.

Many people have lost their jobs in the BVI and many businesses have been forced to reduce or change their operations entirely as they wait for the economy to return to normal.

The government created a $40 million stimulus package to assist businesses and individuals who have been most affected by COVID-19.

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54 Comments

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  1. Yeah says:

    Just like Donald Trump think he is great after standing up fighting to breathe after he climb up the White House stairs.

    Like 16
    Dislike 9
    • To yeah says:

      To most with sense the Premier’s statement is more than a fair statement.

      Like 4
      Dislike 20
      • Rubber Duck says:

        The Fahie government is performing within expectations too.

        The expectations that they would be clueless and more interested in stirring up trouble than looking after the people who elected them.

    • Yup says:

      Yup this Foy is a blithering I***t. My dog is a better leader than him and is certainly smarter. How he can spew this nonsense is amazing. It just goes to show that he thinks the people of the Yereitody are stupid idiots. Maybe they are. They voted this go****a into office.

      Like 23
      Dislike 3
  2. Apollo says:

    “…the soft bigotry of low expectations…”

    Like 19
    Dislike 1
  3. Reply says:

    “He did not specify what those expectations were…”

    Reporter should have pressed him in follow up questions to specify exactly what he meant by that statement and where the economy is.

    Cannot take the Premier words on face value. Without numbers, we have no idea where the economy is, and can only surmise that with the county having been effectively shut off from the outside world with only internal commerce occurring, the GDP must have fallen off a cliff.

    I cannot imagine the $40 million stimulus has been adequate to sustain our needs. I’m sure more money will be needed to be pumped into the economy. The only question is, where would it come from?

    If that turns out to be the case, I cannot imagine the government asking the U.K. for a dime giving it has picked a few fights with them recently.

    Like 39
    Dislike 5
  4. We good ... says:

    … until all the social security fund is loaned to the Govt and there is no money left to pay the ludicrous pensions of the massive number if people working in the public sector.

    Like 18
  5. Deep trouble says:

    Our Premier doesn’t have a clue. The BVI economy is on its way to a recession. To say it’s performing within expectations is to say nothing. The truth is this government lacks the capacity to address the economic woes of the territory. No plans for nothing. Everything is reactive. And when their lack of planning catches up with them, they turn to lies, innuendos, Premier’s fancy slangs and using the governor as a distraction.
    The BVI is in deep trouble with horrible leadership. Those who want to play party politics will lick salt and say it’s sugar until the salt end up in their koolaid. And trust me it will.

    Like 57
    Dislike 6
    • Recession says:

      Correction – the BVI economy is already in recession

      Like 25
      Dislike 2
      • Foreigner says:

        Where did you guys in the BVI find this m***n? Please don’t tell me that every BVISLANDER is as d**b and i****erate as this Premier, even Ray Charles and Stevie Wonder can see the economies around the world has taken a deep deep nose dive.
        Small island run by a smaller thinking man.

    • To Deep trouble says:

      I totally disagree with your statement. The BVI is handling Covid-19 better than most Territories and larger countries. That is not to say that there are not still issues but no country is free from this

      Like 1
      Dislike 29
      • @To Deep Trouble says:

        Sounds like you are the type of person who doesn’t mind if your house is burning once your neighbor’s house is on fire as well. The BVI need not be in this situation if there was proper leadership and management of the issues.

        Like 27
        Dislike 1
      • Lies..Why we still closed says:

        If BVI is handling Covid more than Most countries. U sound like a blind die hard VIP…So if so…Why do we still have curfew and cases and borders still closed until December.. follow the facts you find the failures of this government.

        Like 23
        Dislike 3
      • VIP all the way says:

        Don’t bother with all these BVI haters on this site – this is where they congregate hoping NDP will return. The fact is Fahie and The VIP are doing great. These people here who come to criticize are from countries that have given their people free money since the start of May. They need to shut it. The people with you Fahie.

        Like 1
        Dislike 25
      • Nope says:

        The fact that the BVI is handling the spread of COVID-19 better than other Caribbean countries does not mean that the economy is not in a recession.

  6. His servant says:

    Words are in the right place.

    The projected income for Western U will not be realised. If the honourable is minded to reconsider the 7 % and reduce the fees to 3 or 3.5 % max then there will be more revenue generated from WU.

    ( with greatest respect and not intending to come of impertinent , I have no horse in the race. )

    That apart, the Lord has asked HIs servant to pray for the prosperity of the land, but when some of our other leaders speak they must be careful and not give our energy ,attention, and words to speak about famine, dear Jesus!!!!

    We are going to do what many nations cannot.

    Like 2
    Dislike 8
  7. Doh says:

    Lol. Love the political speak. He says nothing but everything.

    While his statement carries no substance, it also shows a denial that the economy is performing well. If expectations are lower than last year or quarter, then of course, things are performing to plan.

    If I planned for $10 but only received $3, then that is bad. If I expected only $3 then, by goodness, it’s “as expected.” This is how of dear leader thinks. Simple math people. And this guy obviously failed it.

    Like 43
    Dislike 4
    • To Doh says:

      You can tell that you are a Fahie hater. What he said was pure wisdom. Most of us are pleased with how the Premier and his team have handled the Covid-19 Health Pandemic crisis in the BVI.

      Like 2
      Dislike 44
  8. Keep the economy close says:

    This man living in dreamland
    It’s about time the call an early election so ppl can vote this i***t out
    He only care about himself and ppl out here suffering to provide food for there children not forgetting the greedy landlords
    Why can’t it be a earlier opening all the other islands opening between October and November 1
    Andrew Fahie this coronavirus is not going anywhere anytime soon so ppl need to work to survive
    A next thing ppl dying everyday nobody lives forever
    And besides we know the precautions to wash our hands, sanitize and stay 6ft apart
    You behaving as if you’re the only person who knows what is Covid19
    Grow up we are not stupid, you get us exactly where you wanted us “begging”
    I just get one question
    Let’s say this virus last for five years straight, are you going to keep this island close till the virus finish
    Or let say if you open the economy as you say you would and you get one case will you close back the borders
    Fahie come out of your world and live in the present listen to your ppl cry
    Where is the BVI LOVE??????????
    You seems to be worst than Trump

    Like 41
    Dislike 2
  9. But yet says:

    You have staff at the ports making 25% less of their earnings. This is what you expected? These workers are frontline making sure the airport/seaport function everyday. While you have other govt body earning full pay. TB earns no revenue and takes majority of the govt subventions, explain Mr. Fahie why you who always claim you for the people having the port workers suffering. Take the $7000/day from border security and help the people. It’s been five months and the airport staff are on end about their salaries. Take control of you wasteful boards and their spending.

    Like 38
    • vip heckler says:

      and to add insult to injury, he is paying cline 16000 dollars per month to chat s#!t on the radio about the governor

      Like 53
      Dislike 2
      • King Liar and his crew says:

        -$16000 per month to Cline to chat crap on the radio
        -$17000 per day to for a barge that does nothing and is not working to secure the borders

        -All while so many of our people not working.

        Cut Port staff salary by 25% while increasing the port board members payment for doing nothing during a looming recession. They busy victimizing anybody that does not bow to them
        In all of this, all they want is the power to take BVI independent so that they and their cronies can go on forever plundering the BVI

        Election come soon please, I beg you

  10. 1st District says:

    Andrew watching you makes my stomach sick. Thought you were for your people but you let that power go to your head. Smh

    Like 53
    Dislike 2
  11. Affected says:

    A $40 million stimulus package that those of us in tourism business who are ‘most’ affected has not seen on cent of? What a bunch of bull….

    Like 34
  12. vip heckler says:

    It’s snowing right now in the BVI

    Like 11
  13. Anonymous says:

    If we were in such terrible financial situation the borders would have been open a long time ago. You don’t need to be spoon fed the obvious. There are people that want to paint a picture of the walls crumbling all around us for political reasons or hatred of the government but common sense should prevail. Nobody is forcing the government to keep the borders closed. If things were terrible they would open the borders like the US did. Revenue is way lower than usual but they have enough funds to keep afloat for a short period.

    Like 3
    Dislike 27
  14. BVI says:

    THE VIP IS NOT THE ANSWER TO OUR PROBLEMS

    Like 29
    Dislike 4
  15. YOUTH says:

    I see nothing wrong with what the Premier said

    Like 1
    Dislike 27
  16. incompetent says:

    The chickens are now coming home to roost…This is caused by voting for people who you love rather than voting for people who can get the job done

    Like 11
    Dislike 1
  17. E. Leonard says:

    There is strength in numbers so instead of each OT individually seeking help from the UK, VI, Anguilla, TCI, Montserrat, Bermuda…..etc should collaborate and join forces approach the UK as a group.

    Covid-19 has severely impacted the VI economy. Consequently, the economy will be performing below projection. The 2020 growth rate will be lower than projected; 2020 economic performance will be below 2019. The economy is performing as expected statement needs more clarification with quantifiable numbers.

    Like 7
    Dislike 2
    • @ E.Leonard says:

      With respect, do you think it has not also affected the UK economy? The UK has been paying staff salaries for nearly 6 months.

      It is time for the BVI to look inwards at some of the funds stored away – and to claw back some stolen away.

      Like 13
      Dislike 1
    • Listen says:

      With the way the BVI has actively decided not to be in partnership on the common issues that plague the OT’s and the CDOT’s, plus its breakdown of a cordial relationship with the UK, you really think the BVI can come together with anyone?

      Andrew and his talkbots have actively and knowingly decided to bite the hand which could be used to feed them.

      Man, I am just tired with all of this.
      tyadddddddd!!!!

      Like 19
  18. LOL says:

    This comedy sketch gets better by the week! Thanks BVINEWS!

    Like 17
    Dislike 2
  19. Goat says:

    The electorate should be ASHAMED of themselves! They voted for the team that was shouting, jumping up and singing nonsense, over the one that outlined plans and have backgrounds that would’ve assisted them in running this country. Now we are stuck with a di*****r with a team of green leaves who are all scared to stand up. Stop complaining, voting has consequences and now must deal with it. All because we didn’t want an ‘island man’ in power. Karma is smiling while drinking her coffee.

    Like 32
    Dislike 1
    • @Goat says:

      And that man born here and would have done a far better job than this Premier. Voting has consequences. Take the licks and be quiet. That’s what we voted for.

      Like 15
    • Yesssssss says:

      @GOAT, THE VIP PLAYED REAL DIRTY WHEN THEY WERE CAMPAIGNING, D****ING AND D*****YING THE OTHER PARTY POSTERS ON THE SIDE OF THE ROAD. THE ONLY PEOPLE BENEFITING FROM VIP IS THE HAVES, THE REST OF YOU IS THE HAVE NOTS. I BET THAT IS NOT A GOOD FEELING. THOSE OF YOU THAT FELL IN THE HAVE NOT GROUP GOT JUST WHAT DESERVE.

  20. Anonymous says:

    …within expectations = poorly i.e. in recession and heading to depression and collapse.

    How many more raids can SSB really sustain?

    Like 15
  21. @Anonymous says:

    Yes anonymous, all is well with BVILove and God’s grace. Nothing is wrong, government finances are robust, all residents are making ends meet with no problem, it’s raining, cisterns are full and we have the right leader for the right time. Hell, things are going so damn well we don’t need to reopen until Easter 2021. I agree with you, f*** tourism, f*** opening the place. VIP all the way, they are doing great.

    *sarcasm off*

    …What a time to be alive!!

    Like 20
  22. Simple facts says:

    With quarter of the work forced out of work… Another quarter doing less than full work.. That will tell us how much income tax, social security and NHI missing from the Treasury. To add, few work permit renewal… Few new work permits…Less money in the Treasury. If he continues so blatantly. He will become compulsive….

  23. Lies..Why we still closed says:

    If BVI is handling Covid more than Most countries. U sound like a blind die hard VIP…So if so…Why do we still have curfew and cases and borders still closed until December.. follow the facts you find the failures of this government.

    Like 9
    Dislike 1
  24. Concerned says:

    We haven’t even seen the end result yet. No plans for reopening to Tourists so they can not book without knowing what they are in for. Price for Airfare’s are already going up for the season. People working in the Tourism Industry leaving the island and apartments empty. But Landlords bills still will need to be paid (most of them are Belongers). Meanwhile a lot of qualified persons have left, so what product are we going to provide? But VIP busy fighting the Governor and the UK.

    Like 16
    Dislike 1
  25. Lmao says:

    You can’t please everyone. The negative comment are people who want stimulus relief or mad because it’s delayed. Don’t bash the premier because you are upset about not getting money. That’s not fair to him or his party. I bet if money was handing out half of these comment won’t exist. Tolians ain’t easy. Like little children throwing a tantrum when they don’t get their way. We all know this man is doing damn good job in this crisis. For that I applaud you sir. I won’t bash you because the funds taking a little long. 😊

    Like 1
    Dislike 30
    • @Lmao says:

      There we have it, precisely the attitude that the Government has! Nobody wants Government handouts, people want to open their businesses and employees want to work for their money. Nobody is upset at Government about their meager stimulus that can pay a light bill, internet and nothing else. Keep it up, time will tell.

      Like 16
  26. no wonder says:

    His realty company is doing fine because of the absence of the stamp duty and because of people in distress with their properties

    Like 12
  27. @no wonder says:

    It is the fastest wealth transfer in BVI history impoverishing what is left of the middle classes and fattening the oligarchs. At least the treasury could have got a few dollars from stamp duty but even that they gone with.

  28. The Truth says:

    The NDP bloggers at it again.

  29. Reality Check says:

    How can the economy be sustainable when we lost 27 million
    To the US Coast Guard and 120 kilos of cocaine to our police? Where will Andrew make that up with the Royal Navy closing the border? Better to start tourism and put people to work legally and sustainably.

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