The Covid Advisory Committee which was established by Cabinet to advise the Minister for Finance on the economic transformation of Grenada in light of Covid-19, met recently with the Finance Minister.
The committee agreed that at its next meeting, which will be held before the end of this month, a detailed presentation should be done by personnel from the ICT and CBI Committees, both of which are key areas for economic transformation.
It was also decided that the recommendations of the task force established by Cabinet to look at the effects of Covid-19 on the economy, should be submitted to both committees in preparation for the meeting.
The ICT presentation will focus on major transformation projects like the CARCIP programme, the Digital Government for Resilience project, the CARICOM Digital Project, and general technological development within the government service, while the CBI presentation will focus on revenue generation for transformational activities. Other critical areas will also be examined, so that a priority list can be concluded as Grenada prepares for presentation of the 2021 budget. A key aspect is the subject of tourism. Prime Minister, Dr Rt. Hon. Keith Mitchell, said, “Tourism must be a major factor in the economic transformation process.”
There was consensus on the importance of devising ‘non-traditional’ strategies to generate additional resources, in the face of significantly dwindling revenue, and it was also agreed that Grenada should make maximum use of funding from the Green Climate Fund.