Prime Minister Gaston Browne has provided a comprehensive overview of the contributions to social security and employment in Antigua and Barbuda, emphasizing the tangible impact of his government’s policies.
All statements in this article are attributed to Prime Minister Gaston Browne in the 2024 budget speech.
According to Prime Minister Browne, figures from the Antigua and Barbuda Social Security Board for January to September 2023 reveal a significant improvement in employment numbers and income growth.
A total of 43,946 employed and self-employed contributors reported earnings amounting to $975 million during this period.
The Prime Minister highlighted the stability of the labor market and robust economic growth as key factors contributing to a noteworthy increase in contribution income to the Social Security Board.
From January to October 2023, there was a remarkable $15.4 million, or a 12% increase compared to the same period in 2019.
Prime Minister Browne attributed this surge to the success of his government’s policies in fostering economic recovery.
Of particular note is the allocation of 90% of the Social Security Board’s income to pension benefits, serving as a crucial lifeline for many in Antigua and Barbuda.
This financial strength not only fortifies the stability of the social protection architecture but also positions the Board to navigate unforeseen challenges, exemplified by its adept management of pension payments during the COVID-19 pandemic.
Prime Minister Browne expressed confidence in the Social Security Board’s future outlook, citing sustained economic growth and the implementation of approved adjustments in 2016.
These measures position the Board for an even stronger stance in fulfilling its pension obligations and providing other vital benefits.
The Social Security Scheme, described as a cornerstone of Antigua and Barbuda’s social fabric, is expected to play a pivotal role in safeguarding the well-being of many citizens.
Prime Minister Browne emphasized that the presented figures are not mere statistics but represent the tangible impact of his government’s policies.
Prime Minister Browne called for the collective commitment of the nation to a future where every citizen thrives.
He urged citizens to view these positive trends not only as a testament to the strength of the nation but also as an inspiration to uphold a shared vision for prosperity.
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