Pestaina says national budget reflects increased borrowing and stagnant economy

Judth Pestaina

The minority Dominica Freedom Party (DFP) has responded to Prime Minister Roosevelt Skerrit’s presentation of the 2010/2011 national budget.

Leader of the DFP Judith Pestaina told a press conference on Friday that “one would have thought that in light of the Prime Minister’s acknowledgment that ‘these are not normal times’ we would have been presented with a budget which would have included measures to redress the challenges faced by Dominicans at all levels and in all sectors.”

She accused the Government of being bankrupt with ideas, since according to her the  economy is stagnant. She not only associates the economic downturn with the global financial crisis, but with the lack of leadership.

“We were told day after day, night after night during the election campaign that something was happening in Dominica. We were constantly reminded about ‘the next level’. Well it seems that the only things that are new in this budget are the Labour Party’s new catch phrases and buzzwords ‘the next level’ and ‘ a higher level’, which have appeared no less than 20 and 9 times respectively in the budget address to Parliament,” she said.

According to Pestaina, the budget has confirmed the well known créole saying that ‘plus sa change plus c’est la meme chose.’

“In other words, the more things change the more they remain the same. It is also very worrying that in spite of Government’s repeated boast of its ability to prudently manage the country’s finances. We now hear of increased borrowing that threatens to undermine fiscal sustainability and that Government is unable to meet its main fiscal target of a primary surplus of 3 percent in the medium term. One does not get the impression that Government has an approach to accelerate efforts to grow the economy on a sustainable basis and to create permanent employment. Rather the approach has been a regurgitation of the status quo, with no innovations and an expectation to get aid to do a few projects here and there,” she added.

She said the Prime Minister has finally “grudgingly admitted that Dominica like all other countries in the region has been affected by the global financial crisis and will continue to be affected until the anticipated turnaround in the global economy.”

“We all know that there has been a drop in tourism receipts, a decline in remittances as well as a drop in foreign direct investment. What we have seen in the budget is an overlapping of projects and programs which were provided for in last year’s budget but which have not materialized due to government’s failure and inefficiency to meet deadlines,” Pestaina added.

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31 Comments

  1. DONNA RICHARDS [divas spa]
    July 23, 2010

    @Garraway Hotel: thats not very nice, and rather disrespectful in public you not think, i know your aunty personnely,[if you really are her neice or nephew] so i will inform her of your comments.

  2. sad angel
    July 20, 2010

    @ryon:

    what development do we have, i see none, our bannana gone, colgate near gone, no sugar, not even touriusm we building, all i ever see is chinese, open business, and no dominican new business, all i saw building the stadium where chinese, and go east cost all i see is venezulan and cuban, dominica is a mess, we need a leader who know other countries apart from shvez and castro, pestaina spent alot of time in the UK i think, she is a well respected woman every where but dominica it seem, other caribbean countries respect the woman, my god she went to trinidad to over see there election counting.

    this woman has a business in our country, of course she wants to improve her business,and it dominican she employee, not chinese, but with that she will bring business for others, where you see those bus drivers standing when de cruise cominig in, it garaway you know.

    skeritt is a play boy out for his self, look at what he build for himself, where did he get the money for all he doing, you telling me de man earn more than the PM of england,,,,, i never in all my years see a more corrupt goverment, me and my family and my community are struggeling to feed ourselves, and meet our bills, and then we have a PM who flys away at week ends, and during hurricane, lets not forget.

    let us give this woman a chance if we want dominica to survive, as i see no development in a labour future, just look at the airport, all that mess our ocean ruin there like champange ruin, and what do the dominican people have to show for it,,,, nothing but mud, which spelt backwards is DUM… and skeritt making us that.

  3. Anonymous
    July 19, 2010

    Dominicans will only appreciate someone like Mrs Pestaina in the years to come, because education cannot be bought.
    Mr Skerrit is taking advantage of the masses who voted for him, as you can see the red clinic could not continue, now he keeps fooling the uneducated with promising projects which never seem to materialize.
    If you keep burrowing from your banker without making some kind of payments you will soon have to be looking for another form of lending.
    Charity only exits in the Salvation Army.

  4. UPTOWN REBEL!!!
    July 19, 2010

    @Patat: Obviously,you are a mouthpiece for the Govt. Did someone from the inside wrote all of that info for you?,or you knew that all along?.So why did you keep the rest of the Country in the dark up till now?.
    I doubt very much that the rest of the Country was aware of all those very big plans….nice!!!!
    You kno something?,you’re good….Why?…cause i never knew that one could write what they are dreaming,whilst dreaming it….you’re good(lol).
    Another thing is:….The problem is not the borrowing of the the money.It’s the ability to repay.And when you keep borrowing,and borrowing and have no means of paying back,what’s going to happen to you?….you are going to go bankrupt.And that my one track minded friend,is a problem.
    So, all that other rubbish and nonesense that you uttered(or wrote) was exactly that, and more,…. pure feel good propaganda.
    You kno what i observed,mostly everyone who agreed with what Judith said,was disliked. Even she herself was ridiculed.I wonder why?..And it was not because what she said,was not true,or had no substance,quite the contrary…She spoke the truth,but as usual,some Dominicans are blind to truth,even if it smacks them in their faces.That’s sad,very sad indeed…Maybe its subliminal.
    But if you don’t wake up,you will not last a next decade.
    You think things are easy in Dominica,why do you think there is mass migration?Every one is feeling the pinch,everyone is singing the same song.Ask around,talk to someone with a business when you get the chance…Talk to a young person who graduated from school;ask them what are they doing….Man if you listen carefully,you will hear.
    And if things continue as they are…they are going to get much worst. Dominicans need to wake up.Then again it seems to me,they are quite contented with the way things are,and the state in which they found themselves….What a shame eh…….Let’s just hope and pray things get better.
    All the best………

  5. lightbulb
    July 19, 2010

    @Francisco Etienne-Dods Telemaque:

    US is broke, they owe the Chinese, Japanese, Saudis Trillions of Dollars.

    Capital spending by the government is a wasted effort, taxes does not create jobs, the private does!! Ease up the tax burden on the private sector by streamlining taxes, and collecting money from people who cheat the system, we know all of dem

  6. ALL
    July 19, 2010

    We have indeed arrived at the next level..This one is the level of poverty which is wrecking havoc in all nook and cranny of Dominica..Labourites are afraid of opening their mouths,cause they are the worse affected.All sectors of the economy registered decline..This is poor,incompetent,horrendous and miserable leadership..thing is they themselves don’t feel it because they are awashed with money..At the end of it all i hope that the rule of law will prevail. GOOD ANALYSIS PESTAINA..

  7. mainstay
    July 19, 2010

    The problem is this quality that pervades our discussions. The Dominican penchant to over generalised. To say everybody borrows so we must borow too is simple minded logic. Borrowing means payback at some point and therefore must show economic viability. That is exactly the problem with the budget presentation a whole lot of figures without any attempt to show how the money works. This results in those who just want to support the budget not being able to come up with anything but general essay childish statements like everybody borrows why can’t we.

  8. sad angel
    July 19, 2010

    @Magwaysar: people talk like that are small minded, if you where even slightly educated you would give you objective comments,but you so thick all you have is abuse, a true labour supporter,,,,,,,,, just like skeritt you scared of the woman, so what next more painting hotel comments, or lipstick colour, what is that, the little boys scared of de big educated lady

  9. sad angel
    July 19, 2010

    @Patat:

    obviously you a labour supporter, judith pesstaina will get my vote next election, i didnt like her at all at all, but i have listen to her speak, and i have seen her around alot more, and one thing i like about her is i never ever see her with any of the likes of nassiff, or astaphan, unlike skerritt who i have seen on the boat of karl nassiff.
    and i feel that pestaina would make sure the whole of dominica would benifit from her being in goverment, and prehaps we all might open chicken houses and coffee shop and sell more cars.

    you forget the fort young hotel and who own that, amazing how any thing big happen it fort young that get it, remeber when shavez come, i would like to know how much skerritt got for using the fort young that day, if he fair, why not garraway.

    see you all one sided and think this woman is for herself, i think you are wrong and underestimate her, eugenia charles trusted her for many years,so why dont we all give her a chance….

    you have my vote mrs pestaina.

  10. Patat
    July 19, 2010

    if government doh borrow d economy will never get active. But borrowing of itself is not d problem. The reason for d borrowing must be clearly defined!!!
    And that is where you fail to understand basic economic governance and fail further to be honest with d nation.

    Madam u of all people want d vat to go down or disappear all together. You want to see big International Airport to full up all hotel room in Dominic. You want better roads and plenty other things in Dominica before u come Prime Minister – so you doh have to work hard like Skerrit!!
    Ok
    Somebody have to pay for all those things you wish to see Dominica have. But Dominica doh have money to pay upfront.
    So Dominica have to borrow and prioritize on the things that she want to see for her citizens.

    I have read the 34 to 35 pages of d budget speech and here is what I see planned and to be continued in Dominica :

    1. A multifaceted strategy to help d citizens’ prepare to repay an International Airport loan when d ground breaking ceremony take place.

    2. And that taking place with first of all the construction of a new facility for the Dominica State College – a place of higher learning that will make a large number of citizens knowledge workers for the 21st century based on the needs of the new work order that has faced d world. For u see mam Dominica will never make it in agriculture except in a very small niche market. Dominica will hardly make it in manufacturing except in a very small niche space. Dominica is presently being deprived of taking advantage of the offshore banking sector due to the G-8 and G-20 making it unattractive for their citizens to send their monies overseas – It have jail dere. But Dominica has the potential to make gains in IT services – software programmers, AI services, telecoms-medicine, nursing, teaching, social services and business administatration, the Arts, Music, and medical research based on d number of plants that have already been catalogued and thoroughly documented by overseas universities like Clemson University and persons from John Hopkins University.

    3. So that in a nutshell be d education strategy component that d budget focusing on including d construction of a new complex fro Newtown Primary School. Like you I hope it will have an overhead pedestrian walk way that will assist in getting working persons from Castlecomfort and those other communities in d south to Roseau faster and those school children dem safer to Newtown Primary as well.

    4. The West Coast Road Project from Roseau to Portsmouth has started by those Chinese – and by d way I was stunned to see at least one black man on d project. Let us hope d number of locals increase. There is plans for rehabilitating d road from DBS radio to Loubiere and Loubiere to Grand Bay and Loubiere to Pt Mitchel and continuation of d UWP sea defense wall in LaPweet pass d church and Frampton home. Cannot say if it going and reach by Malvinas’ Bar. Ofcourse there is the Canefield to Melville Hall Road to d Airport.

    5. Now all those road project is to give the Tourist and Private Sector and citizens an opportunity to commute on roads that can be close to international standards as possible. I have to say close because I doh see no provision made for traffic lights and it look as if somebody going to have to did d dam new roads to put traffic lights. Now that be shame.

    6. There is work on the Portsmouth Fishing Complex to continue.

    7. We here of urban renewal but I doh know who is d minister these days – there suppose to be big renovations on d President House and Electoral Office.

    8. I cannot remember reading anything about a stadium for Portsmouth – one with an athletics all purpose track. You know since UWP time it have d steel frame for d stadium on d port up to now occupying space. Any development for d youth can have a level of redundantness. A Stadium in Possie can be built in phases, even though it takes ten years. D Government can take man that in d jail or prison to work a double shift – especially those doing hard labor and all man that in drugs and government take their money and property , well their monies can go in that stadium for d north.

    9. Now madam you in d accommodation business and that business does have plenty beds as part of d portfolio of d business. With beds there are rooms. My advice to you is turn your rooms with an aggressive market drive. Some should be turning by d hour, others every 12 hours, and others standard day and night accommodation. For you see mam it have plenty foreign in Dominica right now – ching chong, Lucian, and people that speaking Chavez language and those that speaking Creole. You in d heart of Roseau, business should be booming all now so for you – Wednesday nights should be comedy night, Friday nights should be stripper’s night – after a hard work week people should be able to let off some steam – mothers, fathers, etc!!! Saturday nights should be for oldies dem. And dem bedrooms you have dere should be working just as hard as those bar chairs and tables -turning around like d hands of d wall clocks you have dere. That way you hotel economy will not be stagnant and all other business people will make a money too – doctors, pharmacies, as well as food and consumer durables. You have d assets to help d economy. Get up off d high moral horse and do what u have to do.

  11. Garraway Hotel
    July 18, 2010

    Does my aunt still speak through her nose

  12. July 18, 2010

    Some people have mentioned America. Yes, the U.S. does borrow a tremendous amount of money from China, Saudi Arabia, and other countries, and it does so in an unsustainable fashion that Dominica would be extremely foolish to copy. I’ve never understood why so many developing countries look to whatever the U.S. is doing as some sort of model — their context is totally different.

  13. lol
    July 18, 2010

    stupes…………… she resurrected ,alas

  14. @prissy

    There is a difference in living on borrowed money, and borrowing in order to facilitate a balance in trade.

    There is no shortage of money in America; whereas America can survive without borrowing money, from China, Dominica at the moment cannot exist without borrowing.

    All of the fully developed nations including China, brow from each other!

    Think in terms how much it cost America to support the War, in Afghanistan, and Iraq on a daily basics: Ask yourself where is the money America literally throws away daily, not only in Afghanistan, and Iraq, where it came from?

    Surely, it’s not from China, or any other nation, rather out of the taxpayers of America pocket!

    Money extracted from their monthly, and weekly pay cheque, and the property tax, and all the other taxes we pay daily, monthly, and annually.

  15. P
    July 18, 2010

    very well put together Pestaina.Its clear for all to see that this govt is an absolute failure and is drivin the country into absolute and abject poverty.Those who listened and could understand must have noted that there was a decline in all the productive sectors of the economy.This is indeed a next level,because never before have i heard that situation confronting the country.In the meantime the PM and his ministers are fooling those who can’t understand into believing that Dominica is in safe hands and doing well..

  16. john brown
    July 18, 2010

    I read the speach by Mrs. Pestaina again and again to make sure I did not overlook any suggestions or alternative she had presented at the press conference on Friday, but I found none.

    In her press conferecne Mrs. Pestaina accused the government of being bankrupted with ideas, but she, which i assume is rich and overflowing with ideas, presented none of her own. This was an opportunity to make her case as to why she should be Prime Minister by telling the people what she would have done different.

    America has more money than we do, yet borrows from Communist China. The same Communist China that our local small-minded politicians try to scare us away from. I would like to ask Mrs. Pestaina where did Prime Minister Charles get the money to build the bayfront that her new friends (The UWP) at the time said was a waste and accused her party of throwing money into the sea?!

    Opposition parties never see the good in something until they want to build a fountain on it.

  17. Alex Ramirez
    July 18, 2010

    clean karibik should in that hole in place of judith …

  18. July 18, 2010

    madame u r 100% correct. i am not affiliated to any party for all of you are the same but your statements are true. what is the next level being spoken about by all domincans. d/ca is obviously stagnant in bold letters and its true leadership is also stangant except for their wealth. people should open their eyes and pray earnestly to be rescued in dominica.

  19. UPTOWN REBEL!!!
    July 18, 2010

    @Magwaysar:Absolutely,you should want to hear from her sometimes, she is making plenty of sense,and is right on with what she is saying.
    Maybe if YOU were not hiding in a hole,or your head were not so far up some place where it shouldn’t be, you would have understood exactly what she was saying.
    We should learn to think through issues,and put things in perspective. Instead of uttering rubbish.
    Remember,public attention must be focus upon the gaping hiatus between what is and what might be.
    Judith may be the leader of the minority Freedom Party,yes, but she is nobodys fool.
    Wake up,wake up.Stop playing politics with your lives, your future, and that of your children as well. You need to understand what is going on with your Country,and in your Country. Enough with the party politics and the tribal politics….Understand the issues and the state in which your Country is in,and where its going.
    The direction in which your Country is heading should be very important and critical to you. Don’t take it for granted, because that will affect your future and that of your children as well.
    One of the obligations of Govt. is to facilitate the creation of opportunity for the people.And one of the ways in which it can do so, is by attracting manufacturing investments,but how will it do so when your electricity rate is so high and no attempt are being made to address that problem?.
    Don’t forget…Great minds discuss ideas,average minds discuss things and small minds discuss people…You need innovative mechanisms to make your Country better.
    You cannot keep borrowing,and borrowing.Nor can you borrow your way out of debt,you will end up in a much deeper hole than you are already in. How are you going to pay back your debts?.What do you have going for you?.You will never survive this way. Do you want to be known as a Country that’s always begging,and asking for hand-outs?, or as a Country that can stand up on its own.
    For some of you who mentioned America,please. Yes America borrows,but America have a whole lot going on for her.She makes and manufactures an array of goods and products. She also provide services. She is able to pay back her debts.Can you?.So there is no comparison. Don’t flatter yourselves.
    Please try and develop a disdain for mediocrity and idiocy. Stop making politicians take you for granted and play you for fools.
    Positive vibrations and positive solutions!
    Peace, and all the best to you………

  20. Democratic lover
    July 18, 2010

    Well ,well, so what are Pestinas recommendations for Dominica, how would she spend the borrowed money, what projects does she proposed for stimulating the economy in these hard times.

  21. NJ
    July 18, 2010

    Leave miss Pestaina alone people. The lady is a genius. To me Freedom Party is the opposition Party in Dominica.

  22. PAIN
    July 18, 2010

    It’s nice hearing from you, knowing now you are live and kicking, need to hear from you more often to inform the nation.

    We are suffering.

  23. clean karibik
    July 18, 2010

    In terms of economics it is a good thing to borrow money , nothing is wrong with that.This is what help in the economics rotation of funds and prevent fund from being stagnant. however though there is only a problem when the borrrowed money is mal-managed and utilized.In the past in economics we were told that a company should try to be a liquid as possible ( keep itself in such a way that its current or floating assest can easily be turned to cash). But today this is no longer applicablle in busniess. because the company needs to utilize it current assest to maximize its profit. U can’t leave the current assets stting there and not generating income. saying this to say that people need to start thinking other wise in terms of economics and not keeping to the traditional way of doing things. Society like ours cannot be self sustainable. we must depend on other agencies for our economic survival. We are just a dot in this global waters and we need to broaden our mind. the way of accomplishing what ever we want can’t be done alone so when our so-called leader make certain statement they need to tell us the other side of the story and don’t be dougmatic. The honourable Pestina know exactly that there is no country in the world that can be self sustainable and that all countried depend of each other. Even America owe China about 2 & 1/2 trillion American dollars. This just one example because they are considered the economic giant. So the government should go on and do what is in the best interest of the country. Listen to the critics and learn from them if there is anything to be learnt and move on. God bless Dominica , the government and the people.

    Blessings

  24. Magwaysar
    July 17, 2010

    Madam Pestaina, please go back in the hole where you were hiding. We don’t want to hear from you.

  25. hmmmm
    July 17, 2010

    @SMDH:

    a** HOLE

  26. Sout Man
    July 17, 2010

    “…..we would have been presented with a budget which would have included measures to redress the challenges faced by Dominicans at all levels and in all sectors.” “The more things change, the more they remain the same.”

    You are right about things remaining the same, Mrs. Pestaina.The country is moving on and the DFP is stuck in the same old politics. If the country needs leadership and measures to redress our challenges, what measures do you propose? All I’m reading is a litany of criticisms but no alternative measures. With all due respect, Mrs. Pestaina, talk is cheap. Step up to the plate and show some leadership. Give us concrete measures to move D/A forward. Criticisms alone will not cut it. The government is trying to create jobs and to fight poverty by attracting investment capital and embarking on a few projects. What’s your plan? Why should we vote for you next time?

  27. Cracking up
    July 17, 2010

    @SMDH: If you dont like the message, Shoot the messenger!

  28. dancea
    July 17, 2010

    Well, Madam Freedom Leader, please tell us: what did you want to hear? What would you have presented if you were in Skerrit’s place? What would UWP have done? You all did not tell us during the campaign, (which was one of the really sad and incriminating things about the last campaign). . You did not tell us in your comment above? The Government has done the best it could. Simple as that: put up or shut up.

  29. July 17, 2010

    America one of the richest countries in the world is living on burrowed money from China, so what the heck is she yaking about.

  30. SMDH
    July 17, 2010

    I cannot take this woman serious. Anybody that have ManChild in their political party going up for elections is a total disgrace. So please shut up and crawl back under what ever rock you came from.

  31. ryon
    July 17, 2010

    Pestaina is right on this one but, all islands in the region benifit from monies burrowed except for Trinidad and Tobago, from St Kitts to Guyana economies are on burrowed money. We are developing coutries who have to ttry to build our economies on the utilisation of our natural resources.

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