Premier Calls for Combined Efforts to Improve Economic Growth
Montserrat’s leader of government business, Premier the Honourable Joseph Farrell is adamant that the island needs to change its growth trajectory in order to accomplish positive economic growth going forward.
Premier Farrell has been speaking against the background of the current economic downturn and the accompanying food and energy crisis that has impacted Montserrat and the rest of the world severely.
He states that it would definitely take a combined effort with every resident playing his or her part to ensure not only a monetary turnaround, but an economic transformation of Montserrat’s operating environment.
Premier Farrell, who says the government remains steadfast in its commitment to fiscal discipline, feels Montserrat will need to further boost the investment climate, strengthen economic and climate resilience and invest more in its people to build human capital.
These, he says, are necessary complements to the maintenance of a strong macroeconomic framework and would help boost economic growth and job creation.
Despite unemployment at a low, with still too many young people struggling to find a job, Premier Farrell says that for Montserrat to continue to grow and prosper, it also needs to develop the skills for the workforce of tomorrow, especially in the areas of technology and digitalization.
This, Premier Farrell adds, requires a sharp focus on creating the conditions for youths to strive and succeed in the modern business world and close cooperation with the private sector in this respect.