POND ISLAND--Early this month, the Department of Statistics (STAT), which falls under the Ministry of Tourism, Economic Affairs, Transportation and Telecommunications (TEATT), started its National Accounts Survey (NAS). A random sample of business establishments and foundations operating in the country is part of the data-collection survey. “The gathering of data is very important for macroeconomic analysis, planning and policy-making. Every business contacted to participate, helps provide a picture into our national economy,” said Minister of TEATT Stuart Johnson.
The survey is conducted during the last quarter of each year and takes about five months to complete. The objective of the survey is to collect the most recent financial data from the business sector. The information is then combined with data from other economic sectors to provide a full picture of the national economy in a given year.
STAT recently concluded its Economic Census Survey and currently also has the Labour Force Survey underway. “The collection of various data allows our STA department to study the state and behaviour of the St. Maarten economy,” Minister Johnson said.
“These are testing economic times, but considerable investments will be made by the public sector into the national economy via the Trust Fund. Besides that, investments being made by the private sector will positively impact growth in the long run that will build our resilience as a nation, ensuring a sustainable future for our people. This government’s objective is balancing government’s books in the coming years and creating a path for sustainable growth as outlined in the governing programme 2018-2022 ‘Building a Sustainable Sint Maarten,’” Johnson said Monday.
