UN General Assembly
2020

In terms of economic stimulus, the Government has launched programmes to animate the most impacted sectors of the economy including the extension of $7.25-million line of credit to micro, small and medium enterprises; and provision of wage subsidies to promote employee retention, and provision of a $5-million Special Line of Credit for Tourism Stakeholders. We have also launched an Economic Recovery Strategy which rests on 5 pillars namely: Supporting Business Recovery, Creating a Business Climate for Growth, Improving Government Efficiency, Strengthening of Productive Sectors and Agriculture, and Growing our Emerging Economy. But all those efforts and initiative are puny in comparison to the magnitude of the impact of the pandemic. Economic growth is expected to contract by some 20 to 25 per cent, which is as much as three times the global average. And, we are still not sure that we have seen the worse of this pandemic.