Pierre Highlights Saint Lucia’s Economic Growth, Inflation Relief

The Saint Lucia Labour Party (SLP) held its annual delegates conference on Sunday, when Prime Minister and Minister for Finance, Economic Development, and the Youth Economy, Philip J. Pierre, provided fiscal updates highlighting the party’s performance since its July 2021 election. “Over the past four years, the country’s fiscal position has improved. We have experienced three years of economic growth, and it is estimated that the economy will grow by over 5% this year,” Pierre stated in front of a crowd of SLP supporters, ministers, country delegates, and officials from Saint Vincent, including Unity Labour Party (ULP) leader and Prime Minister of Saint Vincent & the Grenadines, Dr. Ralph Gonsalves. “Saint Lucia remains the largest economy in the Eastern Caribbean (EC) Currency Union; 26% of the [EC] economy, and the Bank of Saint Lucia has now become the largest bank in the OECS union,” Pierre continued. The Prime Minister addressed inflation, one of the challenges faced globally and throughout the Caribbean and a concern for many Saint Lucians. “There is no denying that the level of inflation is not desirable, but the main causes are due to external forces,” said Pierre, adding, “Rising prices are a consequence of imported inflation,...