Cost-of-Living Task Force Charts 2025 Strategy to Tackle Economic Challenges 

Basseterre, St.Kitts, December 6, 2024 (ZIZ News): The Cost-of-Living Task Force met on Thursday, December 5, 2024, at Government Headquarters to present a comprehensive plan aimed at addressing the economic challenges caused by global geopolitical tensions and financial uncertainty.

Formed in 2023, the Task Force has led efforts to ease inflationary pressures and strengthen economic resilience. In its first year, the group developed actionable strategies to reduce the impact of external shocks on both households and businesses.

During the meeting, the Task Force outlined its 2025 work plan, which focuses on stabilizing costs in key areas such as food, water, and energy. The plan includes enhanced collaboration with stakeholders, with the formation of ad-hoc groups and technical consultations to leverage expertise from various sectors.

Cabinet Secretary and Task Force Chair Dr. Marcus Natta stressed the collective responsibility in addressing the rising cost of living.

He noted that the cost-of-living crisis is a global issue requiring a united response. While the government remains committed to safeguarding households and businesses, Dr. Natta encouraged individuals, communities, and the private sector to adopt practices that promote efficiency, sustainability, and resilience.

Dr. Natta also highlighted the innovative creation of ad-hoc groups, which include representatives from worker unions, private businesses, NGOs, and specialized fields, to develop targeted solutions to key challenges.

The Task Force is a multi-sectoral team that ensures a coordinated approach to economic challenges. Members include the Cabinet Secretary as Chair, the Head of the Civil Service, and representatives from ministries such as Finance, Sustainable Development, Labour, Social Development, Agriculture, and Energy, among others. The group also includes a representative from the Chamber of Industry and Commerce and a representative from the Nevis Island Administration.

With its roadmap set for 2025, the Cost-of-Living Task Force remains central to the government’s commitment to economic stability and sustainability. Dr. Natta reaffirmed the administration’s dedication to improving the quality of life for all citizens and residents of St. Kitts and Nevis.