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St. Kitts and Nevis economy continues to slow down, public debt rose in 2017, says ECCB

Published 7 June 2018

Buckie Got It, St. Kitts and Nevis News Source

By: Media Source

St. Kitts and Nevis economy continues to slow down, public debt rose in 2017, says ECCB

Basseterre, St. Kitts, June 6, 2018 – The St. Kitts and Nevis economy continues to slow down for the third consecutive year under Prime Minister Dr. Timothy Harris’ PLP/CCM/PAM administration.

The St. Kitts and Nevis economy registered a GDP of 1.7 percent in 2017, according to the Eastern Caribbean Central Bank (ECCB) Annual Economic and Financial Review, which predicted n its outlook for 2018, a narrowing of the Federal Government’s fiscal surplus, further slowing in receipts from the Citizenship by Investment Programme and increase inflationary pressures in the domestic economy.

Economics, Local news, News

39.0 % Increase in Profits ! National Bank Group of Companies To Announce Another Year of Success at its 47th Annual General Meeting

http://timescaribbeanonline.com/39-0-increase-in-profits-national-bank-group-of-companies-to-announce-another-year-of-success-at-its-47th-annual-general-meeting/#.Wwa0eGWLK48.gmail #

Published 24 May 2018

Buckie Got It, St. Kitts and Nevis News Source

39.0 % Increase in Profits ! National Bank Group of Companies To Announce Another Year of Success at its 47th Annual General Meeting

BASSETERRE, ST. KITTS (May 23, 2018) – The National Bank Group of Companies will convene its 47th Annual General Meeting at the Park Hyatt St. Kitts on Thursday, May 31, 2018, at 5 p.m.

According to the Chairman of the Board, Mr. Alexis Nisbett, “The Group’s most recent performance is a testimony to the commitment, loyalty and confidence of our shareholders and customers as well as the hard work and dedication of staff. The Group’s remarkably good performance over its 47-year history is also indicative of its strength and stability as demonstrated by the deposits, shareholder’s equity and reserves recorded.”

Economics, Local news, News

St. Kitts and Nevis, fifth in Nationality of Quality Index in the Caribbean, Antigua leads OECS

Published 28 April 2018

Buckie Got It, St. Kitts and Nevis News Source

By: Media Source

St. Kitts and Nevis, fifth in Nationality of Quality Index in the Caribbean, Antigua leads OECS

Basseterre, St. Kitts, April 28, 2018– Despite claims by St. Kitts and Nevis Prime Minister Dr. Timothy Harris that the Federation’s Platinum Citizenship by Investment Programme is Number one in the OECS, the latest Henley & Partners profile indicates that claim is false.

Economics, Local news, News

Central Bank announces update on GDP terminology and data release and revision policy

Published 23 April 2018
Buckie Got It, St. Kitts and Nevis News Source

By: Media Source

Central Bank announces update on GDP terminology and data release and revision policy

Basseterre, St. Kitts, April 23, 2018 – The St. Kitts-based Eastern Caribbean Bank (ECCB) has announced that in keeping with international standards, it has updated the terminology used to describe economic activity in the Eastern Caribbean Currency Union (ECCU).

“Previously Gross Value Added (GVA) was quoted as the indicator of real change in the economy yet referenced as Gross Domestic Product (GDP). The two aggregates were used inter-changeably. GVA is the difference between Output (eg. Sales) and Intermediate Consumption (items used in the production process). It is calculated at the industry/producer level at basic prices. GDP is calculated at market prices, and is the sum of all Gross Values Added for all resident producers (industries) plus any taxes on products less any subsidies on products that are not already included in the valuation of output,” said a statement posted on the website of the Central Bank.

Business, Economics, Local news, News

ECCB statistics highlight a tumbling St. Kitts and Nevis economy, Federation almost at the bottom

Published 23 July 2017

Buckie Got It, St. Kitts and Nevis News

ECCB statistics highlight a tumbling St. Kitts and Nevis economy, Federation almost at the bottom

BASSETERRE, ST.KITTS, JULY 21ST 2017 – Despite repeated statements by St. Kitts and Nevis’ Prime Minister and Minister of Finance, Dr. the Hon. Timothy Harris, of a robust and highly confident St. Kitts and Nevis economy, the Eastern Caribbean Central Bank (ECCB) is telling a different story.

The ECCB whose goal is to maintain the stability and integrity of the sub region’s currency and banking system for the second time this year revised downward its projected GDP for St. Kitts and Nevis for 2017 with a slight increase in economic activity for 2018.