Medium Term
Economic Strategy (MTES)
The ever-changing global environment and the rapidly expanding economy of the British Virgin Islands dictate that there must be a framework to allow for injection a larger degree of predictability in the actions of Government. The MTES represents the broad/core package of policies, strategies and programmes proposed by the Government over the period 1999-2001. The MTES, with its objectives and targets, is consistent with the overall objectives of the
National Integrated Development Strategy and the Memorandum of Co-operation and Partnership 1999-2001.
The hopes and aspirations of the people are captured in the long term strategies for development. But there must be a transformation of the long term priorities into short term programmes and measures. The MTES concentrates on the strategies of the public sector as these supportive measures are intended to complement the private sector goals for the most part. However, unlike NIDS and somewhat like MCaP; the MTES is not the direct product of the consultative and deliberation processes. The MTES is a product of consultations with high-level government officials under
Terms of Reference drawn up to complement the upcoming MCaP.
The MTES was prepared through a United Kingdom government sponsored consultancy using KPMG of the U.K. The consultant benefitted from the background papers, draft policy statements and programmes arising out of the national consultation in respect of the NIDS. In addition to the work carried out under NIDS and the MCaP, the MTES development process benefitted from direct consultation with some ministers, all permanent secretaries and selected Heads of Departments. In particular the MTES development process included information that ministries prepared for their annual budgets and business plans.
The MTES also was framed from other policy documents such as the Speeches from the Throne and the
Annual Budget Speeches.
Consultations took place with permanent secretaries about their business plans and strategies in connection with established policies. From the consultations, the consultant in co-ordination with the
Development Planning Unit established the objectives and targets of the MTES. A quick overview of the process, outputs and expected outcomes are presented in an
Overview of the MTES.
The main findings and strategies of the MTES include an analysis of recent economic and budgetary performance, prospects for growth, policies to support the MTES, financing of the MTES and an executive summary.
The Main Document of the MTES and the MTES Annexes are placed on this site as a service to our clients.
We welcome your questions and comments on the strategy document.
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