Tag: Marco Archer
MLAs back bill to tighten public procurement
(CNS): A bill designed to remove political interference, create transparency, improve efficiency, get better value for money and generally tighten up the entire process around government procurement was backed by the parliament Monday, with no opposition, following its second reading. Government hopes that the legislation, which has been a long time coming and inspired by […]
Cayman overcomes fears of official surveys
(CNS): Once reluctant to reveal information to government officials for statistical surveys, the public in Cayman has become much more willing to respond to important socio-economic surveys, and is also embracing the resulting statistics in a variety of ways. Finance Minister Marco Archer, who has responsibility for the Economics and Statistics Office, has said that local […]
Archer bags award for hitting financial targets
(CNS): Cayman’s minister of finance, Marco Archer, has been lauded by an international news organisation after bagging the Caribbean Finance Minister of the Year award. Speaking in the Legislative Assembly on Monday, Premier Alden McLaughlin congratulated the man he called the “financial sheriff”, saying the award was significant for him, his family and government. According […]
Cayman brings in over 7% more stuff
(CNS): Government has attributed an increase in imports as another good sign that its economic policies are working. According to the Quarterly Trade Statistics Bulletin for April to June this year, CI$194.7 million worth of good were imported from abroad, an increase on the same time in 2015 of 7.1%. This increase was down to […]
Government claims cost of living is falling
(CNS): With electricity, gas and fuel still falling in price, inflation in Cayman continues to decline, according to the Economics and Statistics Office. Finance Minister Marco Archer says that this means Caymanians now have more spending power. In the latest Consumer Price Index report, which measures inflation through changes in prices for goods and services, […]
Jobless total falls to new low of 3.9%
(CNS): A new Labour Force Survey has found that the total number of people out of work in the Cayman Islands this spring had fallen to 3.9%, the lowest jobless figure since 2007. The latest report from the Economics and Statistics Office indicates that the rate of unemployment among locals has also fallen significantly, from […]
Expertise needed to make procurement bill work
(CNS): Government’s new procurement bill, which is expected to be debated in the Legislative Assembly next month will depend on the development of expertise in the civil service to make it work, Deputy Governor Franz Manderson has stated. The draft legislation introduces what has been described as a comprehensive and accountable regime for the purchase of goods and […]
Local economy on the up, claims minister
(CNS): Finance Minister Marco Archer said that the local economy is on the up after figures released by the Economics and Statistics Office indicated that economic activity in the Cayman Islands, as measured by the gross domestic product, was estimated to have grown by 2.4% in the first quarter of 2016. “The domestic economy continued […]
Report shows Cayman’s GDP growth slowed in 2015
(CNS): The growth in the Cayman Islands Gross Domestic Product (GDP) slowed in 2015 compared to 2014, according to the Economic and Statistics Office, which released a number of figures relating to the last fiscal year this week. The Annual Economic Report revealed that the country’s GDP is expected to rise by an estimated 2% in […]
CIG passes $1B budget in face of new risks
(CNS): Legislators passed the Cayman Islands’ first ever 18-month budget Friday, after more than seven days deliberating over the spending plan. Government will spend more than $862 million, 3.4% more than last year (pro rata), and collect over $908 million, but with additional revenue from authorities and companies the public purse is expected to collect […]
MLAs push for more education cash
(CNS): More than $145 million has been allocated to education in the 18-month budget, accounting for around 17% of the government’s entire 2016/17 spending plan, but opposition MLAs and the education minister pressed for more yesterday, when concerns were raised about failing schools identified in last year’s damning school inspections. Pulling the $2.5 million budgeted […]
