The Honourable Dr. Terrance Drew-led Government is busy at work finding innovative ways to generate economic activity that will propel St. Kitts and Nevis on the path towards becoming a sustainable island state.
Prime Minister Dr. Drew stated today (Wednesday, November 2, 2022) that his administration inherited an economy that was too heavily dependent on the Citizenship by Investment (CBI) programme.
Dr. Drew, who also serves as Minister of Finance in the Federal Cabinet, said as a result of a lack of economic diversification under the former administration, the Federation’s economy right now is approximately 50-60 percent dependent on the CBI programme.
“What does that mean, it means that we are very vulnerable. [The economic citizenship industry] is a very fragile industry. It is even more fragile than tourism as I can say here today. There was hardly any diversification in the economy.