Cabinet to Encourage Construction to Keep Economy Bouyant

The Cabinet of Antigua and Barbuda acknowledged the tremendous negative impact which the coronavirus has had on economies throughout the world, including the economy of Antigua and Barbuda. In order to respond to the economic downturn, the Cabinet agreed to begin a number of construction projects without delay. To that effect, it has also authorized the National Asset Management Company (NAMCO) to move with all deliberate speed to intensify the car park project. Assistance from the Eastern Caribbean Central Bank was acknowledged with thanks. Several heads of state and governments, though challenged, were also approached by letter to assist. The Cabinet agrees that more domestic spending will keep the economy buoyant; consequently, every effort is to be made in the weeks ahead to ramp-up spending and to encourage construction during these challenging times.

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