Just the Facts

Share the facts about what NNP has has done and will continue to do to ensure that Grenada keeps moving forward.

A key driver of economic growth in any country is an efficient, motivated Public Service.   This sector is oftentimes maligned, and its contribution towards the sustainable development of the nation is taken for granted.  A government could have the best strategies, and cutting edge ideas to grow its economy, but without the work of the Public Servants – implementation and execution will come to a grinding halt. 

For many years the Corporate Income Tax Rate in Grenada has been 30%. The Prime Minister Dr. The Right Hon. Keith Mitchell in his budget presentation for 2018 announced that by June 2018 with all things being equal that Government will lower the rate from 30% to 25%. What this simply means is that for one dollar $1.00 of profit earned in 2018 a business will be liable for tax at $0.25 instead of $0.30.

Increased allocation under the World Bank’s IDA

Through advocacy on behalf of the over 50 Small States in the world, Grenada is benefiting from an increased allocation under the World Bank’s International Development Association (IDA) 18th replenishment,which is being front loaded and fast tracked, so that Grenada is getting more of our total IDA allocation of US$67.0 million much sooner than we would have otherwise.

Neil Ferguson in his book “Why Nations Fail – The Origins of Power, Prosperity and Poverty” analyzed world economies from since the days of the industrial revolution in the Great Britain in the 15th century to the United States in the 20th and 21st century and concluded that the two most important ingredients for successful nations are strong political systems and strong financial institutions.

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