Government To Take Sector-Based Approach To Determine Economic Impact Of COVID-19 

PR– The Government of Grenada is preparing to embark on a series of sector-based consultations to examine the potential impact of COVId-19. 

Following the broad-based gathering last Thursday that was initiated by Prime Minister and Minister of Finance, Dr. the Right Honourable Keith Mitchell, several sector specific consultations are now being planned for this week. 

The identified sectors are banks and credit unions; agriculture; wholesale and retail; construction; hotel and restaurant; labour; National Insurance Scheme and transportation. 

Explaining the rationale for the meetings, Dr. Mitchell said, “It is important that Government is able to determine what is happening in the various sectors, the type of impact that the pandemic is creating in each specific area so that Government can in turn develop appropriate measures to stimulate economic activity.” 

The Prime Minister and Minister of Finance also noted that sector representatives can themselves be valuable sources of ideas for combatting any negative impacts from the outbreak. 

He said, “Going forward, we must consider various strategies, including possible stimulus packages for various sectors and the role of NIS. All options must be carefully considered as we collectively seek to ensure that the local economy weathers this outbreak. This is a national issue and we must all be part of the solution.” 

Dr. Mitchell has also indicated that efforts are continuing at the regional and international levels to address the economic impact of COVID-19.