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This revelation was made as Prime Minister and Minister for Finance Honourable Dr. Kenny Anthony delivered his 2013 Budget Address Tuesday.
The Prime Minister reiterated government’s commitment towards the agriculture and manufacturing sectors .
Dr. Anthony took the opportunity to highlight the economic activity accelerated by the banana industry despite problems of the Black Sigatoka disease.
“Notwithstanding the problems associated with the Black Sigatoka disease and the rising costs of inputs, banana production increased by 25.2 percent to 14,984 tonnes, reflecting the full year’s effect of the industry’s recovery from Hurricane Tomas. Export earnings also increased by 40.1 percent to $28.2 million driven by a sharp increase in exports to the UK market.”
Dr. Anthony also spoke on the current state of the manufacturing sector as it is set for recovery.
“Manufacturing output for 2012 remained largely flat at an estimated $328 million dollars, buoyed by some gains in food and chemical production. While there was a 23% expansion of non-alcoholic beverage output due to increased sales of water and soft drinks, there was a net lowering of production in the beverage sector. Generally, performance in the sector was constrained by high energy and labour costs and the rising imported prices of input.”
Diversification efforts in the Agriculture Sector seems to be in full effect as preliminary data suggest a moderate increase in supermarket purchases of other fruits and vegetables.
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