Unfortunately, the mill upgrade over the past three years has not been able to produce the desired results and has only added to the debt burden of the Government. However, the outlook for this critical industry is positive pending the implementation of a range of reforms to bring the industry back to its glory days.
It is encouraging to note the Prime Minister’s recent pledge to fix the industry and safeguard the livelihood of nearly 200,000 people who rely on the sugar sector. Consumer spending has picked up slightly from levels recorded last year, as indicated by recent partial indicators. Higher Net Value Added Tax (VAT) collections and Pay As You Earn collections indicate growth in private consumption.