British Virgin Islands

Saturday, Nov 28, 2020

VI economy has ‘fared well’ despite COVID-19 challenges

VI economy has ‘fared well’ despite COVID-19 challenges

Ahead of the National Budget Address on Thursday, November 12, 2020, Premier and Minister of Finance, Hon Andrew A. Fahie said the territory has fared well despite the challenges that came as a result of the coronavirus pandemic.

“This year's budget is based on the innovation side, last year's budget was based on making sure that we get to green energy and we get the green smart… we're going to do the same thing now but all thrust is going to be through innovation and also through entrepreneurship.”

The Premier was at the time speaking during a GIS interview on November 5, 2020, following the delivery of the Speech from the Throne by Governor Augustus J. U. Jaspert.

“We have to look and see how do we bring some new business persons onstream in new areas because COVID-19 has forced us to dispose of some of the old ways of doing business and some of the old businesses because now it has shown us that there are plenty more areas out there that persons can invest in and also blossom financially, and bring jobs to the territory,” Hon Fahie said.


Premier Andrew A. Fahie has underscored that through innovation, the job of his administration now is to open the minds and appetite of the people which will be done in the upcoming budget.

No public service layoffs - Premier Fahie


The Premier underscored that, through innovation, the job of his administration now is to open the minds and appetite of the people. This he said will be done in the upcoming budget.

"Despite the challenges financially, we have still fared well...We were not in a position where we had to lay off any public officers.”

He said; however, the Government is working to address the challenges that private entities faced as a result of the pandemic.

"The private sector took some very heavy blows, and we're working on that in terms of how do we stimulate the economy on that end. We are in constant conversation and we're going to get it done,” the Premier and Minister of Finance assured.

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