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Tuesday, April 7, 2009
Grenadan Prime Minister Tilman Thomas stated that in an effort to counter the effects of the global economic downturn his government has put in place measures aimed at stimulating economic activity.
In his radio address the PM told Grenadians that most of the island's large tourism development projects have slowed down or stopped due to lack of financing, that tourist arrivals had declined and some jobs lost.
Prime Minister Thomas said measures intended to alleviate the cost of living included the removal of a national reconstruction levy "putting back EC$10M of disposable income in the hands of ordinary Grenadians".
A tax amnesty was offered by the administration to give businesses and individuals an opportunity to make a fresh start.
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