Beautiful Virgin Islands

Monday, Mar 27, 2023

BVI poised to double its revenue, add $100M in 7 years — Premier

BVI poised to double its revenue, add $100M in 7 years — Premier

The BVI can possibly double its revenue in the coming years and is largely banking on its twin financial pillars of tourism and financial services to get there in record time.
Premier and Finance Minister Dr Natalio Wheatley expressed this sentiment recently; noting that the BVI is well-positioned for economic expansion given its current trajectory.

Dr Wheatley recalled that as far back as 2001, the territory had a budget of $192 million but has just about doubled it in 2023 with a budget of nearly 400 million dollars.

He suggested that the territory can double its revenues again in an even shorter timeframe than it previously did.

“We are poised for growth. We can’t imagine ourselves to stay at the revenue figures where we are now,” Premier Wheatley said. “Just like in the last 20 years, we doubled our revenues, we have to double it again — and we are poised to double it again.”

“We’re at $376 [million]. You know, we have to add another $100 million to that. By 2030 let’s add another $100 million. And we can do it,” he stated.

However, reportedly high unemployment levels for locals — a theme the Premier and other lawmakers have highlighted over the years — did not appear to be a troubling factor for this prediction for growth.

“Our economy is producing jobs, upon jobs, upon jobs, upon jobs — to the point where you have to import people to do work — and you have lots of work permits that you issue each year. So our economy is doing well,” Dr Wheatley stated.

In the meantime, the Finance Minister also looked at other factors that might spur the territory’s growth, such as the BVI’s indebtedness. He pointed out that the BVI has never defaulted on loans and has a good debt servicing ratio.

He noted, too, that the BVI needs to find ways of diversifying its economy and pointed to food production and ‘light manufacturing’ as possible avenues for getting this done.
Newsletter

Related Articles

Beautiful Virgin Islands
Close
0:00
0:00
In a dramatic U-turn against His Government: Judicial Reform Legislation Must Be Halted, Says Israeli Defense Minister Yoav Gallant
I have a dream, MLK inspiring speech
Gordon Moore, a co-founder of Intel Corporation, died at 94
Aretha Franklin, Marvis Staples - Oh Happy Day
Powell: Silicon Valley Bank was an 'outlier'
BVI Freedom Song
Donald Trump arrested – Twitter goes wild with doctored pictures
Billy Preston - You Can't Beat God Giving (Live)
NYPD is setting up barricades outside Manhattan Criminal Court ahead of Trump arrest.
VIRGIN ISLANDS REGGAE CARIBBEAN RIDDIMZ
Credit Suisse's Scandalous History Resulted in an Obvious Collapse - It's time for regulators who fail to do their job to be held accountable and serve as an example by being behind bars.
Oh Happy Day Edwin Hawkins - Anthony Brown w FBCG Combined Choir
Home Secretary Suella Braverman tours potential migrant housing in Rwanda as asylum deal remains mired in legal challenges
'Stand by Me' performed by Karen Gibson and The Kingdom Choir
Paris Rioting vs Macron anti democratic law
National Anthem of the British Virgin Islands - Oh, Beautiful Virgin
'Sexual Fantasy' Assignment At US School Outrages Parents
Hello Dolly
Credit Suisse to borrow $54 billion from Swiss central bank
for KING & COUNTRY - Amen (Reborn) [feat. Lecrae & The WRLDFMS Tony Wi
Russian Hackers Preparing New Cyber Assault Against Ukraine
Bob Marley - Get Up Stand Up
Jeremy Hunt insists his Budget will get young parents and over-50s back into work
Yes He Can
If this was in Tehran, Moscow or Hong Kong
What A Friend We Have In Jesus
Nashville police officer, and a female driver shooting one another
Unforgettable
TRUMP: "Standing before you today, I am the only candidate who can make this promise: I will prevent World War III."
Touch The Hem Of His Garment
Mexican President Claims Mexico is Safer than the U.S.
The Lord's Prayer
A brief banking situation report
THE GOD MOVEMENT...BEAUTIFUL BVI
Lady bites police officer and gets instantly reaction
Siyahamba
We are witnessing widespread bank fails and the president just gave a 5 min speech then walked off camera.
Ray Charles And The Voices Of Jubilaton, Oh, Happy Day
Donald Trump's asked by Tucker Carlson question on if the U.S. should support regime change in Russia?.
Ramblin' Rose
Good news: The U.S. government is now guaranteeing all deposits, held by, Silicon Valley Bank, and the funds are available as of today
Protoje - Who Knows ft. Chronixx
Silicon Valley Bank exec was Lehman Brothers CFO
Pressure - Virgin Islands Nice
In a potential last-ditch effort, HSBC is considering a rescue deal to save Silicon Valley Bank UK from insolvency
Phil Wickham - House Of The Lord
BBC Director General, Tim Davie, has apologized, but not resigned, yet, following the disruption of sports programmes over the weekend
My God Is Real (Yes, God Is Real)
A Mississippian man, who was once considered a “ticking time bomb,” has lost a whopping 165 kilograms! What motivated this incredible transformation?
The Lion King Circle of Life by LEBO M. — LIVE at the HAVASI Symphonic
Elon Musk Is Planning To Build A Town In Texas For His Employees
Louis Armstrong - When The Saints Go Marching In
The Silicon Valley Bank’s collapse effect is spreading around the world, affecting startup companies across the globe
Kanye West Sunday Service - hallelujah, salvation, and glory
City officials in Berlin announced on Thursday that all swimmers at public pools will soon be allowed to swim topless
Jonathan Nelson - I Believe (Island Medley
Fitness scam
From The Virgin Islands Sqad Up
Market Chaos as USDC Loses Peg to USD after $3.3 Billion Reserves Held by Silicon Valley Bank Closed.
Common, John Legend - Glory
A primitive judge in Australia sparked outrage when he told a breastfeeding woman to leave his courtroom for being “a distraction"
Anthony Evans vs. Jesse Campbell - If I Ain't Got You
Barcelona is feeling the heat as they face corruption charges over payments to former vice-president of Spain's referees' committee, Jose Maria Enriquez Negreira
I have a dream, MLK inspiring speech
Senator Tom Cotton: If the Mexican Government Won’t Stop Cartels from Killing Americans, Then U.S. Government Should
Aretha Franklin, Marvis Staples - Oh Happy Day
Banking regulators close SVB, the largest bank failure since the financial crisis
BVI Freedom Song
The unelected UK Prime Minister Rishi Sunak, an immigrant himself, defends new controversial crackdown on illegal migration
Billy Preston - You Can't Beat God Giving (Live)
Old clip of Bill Gates saying Ukraine is a big, fat, corrupt sinkhole is going viral
VIRGIN ISLANDS REGGAE CARIBBEAN RIDDIMZ
Man’s penis amputated by mistake after he’s wrongly diagnosed with a tumour
Oh Happy Day Edwin Hawkins - Anthony Brown w FBCG Combined Choir
In a major snub to Downing Street's Silicon Valley dreams, UK chip giant Arm has dealt a serious blow to the government's economic strategy by opting for a US listing
'Stand by Me' performed by Karen Gibson and The Kingdom Choir
JP Morgan Becomes First Bank to Predict UK Will Avoid Recession
National Anthem of the British Virgin Islands - Oh, Beautiful Virgin
JP Morgan Becomes First Bank to Predict UK Will Avoid Recession
Hello Dolly
How do stolen goods end up on Amazon, eBay and Facebook Marketplace?
for KING & COUNTRY - Amen (Reborn) [feat. Lecrae & The WRLDFMS Tony Wi
It's the question on everyone's lips: could a four-day workweek be the future of employment?
Bob Marley - Get Up Stand Up
Is Gold the Ultimate Safe Haven Asset in Times of Uncertainty?
Yes He Can
×