PM Gonsalves Hails ‘Significant Uptick’ in SVG’s Economy

Prime Minister Dr. Ralph Gonsalves says St. Vincent and the Grenadines has experienced significant economic growth over the past four years, despite the challenges posed by natural disasters and the COVID-19 pandemic.

Speaking during a recent radio appearance, Dr. Gonsalves described the country’s economic progress as “remarkable,” noting consistent gains in employment, wages, and overall national wealth.

> “We have seen a significant uptick in the economy—wages and salaries, more jobs, increased wealth generally, and remittances,” the Prime Minister stated. “From 2022 to now, the economy has grown in the aggregate by more than 20 per cent, more than one-fifth—and we are using the nominal numbers—and that’s significant.”



Supporting his claims, recent data from the World Bank lists St. Vincent and the Grenadines as the second fastest-growing economy in the region, trailing only Guyana.

The Prime Minister’s remarks come at a time when the government continues to emphasize economic diversification, infrastructure development, and social recovery efforts following the La Soufrière volcanic eruption in 2021 and the global pandemic.