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In the 2024 budget speech, Prime Minister Gaston Browne provided an insightful overview of the contributions made to social security and employment in Antigua and Barbuda.
He highlighted the positive effects of his government’s policies, emphasizing the tangible impact on the country’s economy and citizens well-being.
According to the Prime Minister, the Antigua and Barbuda Social Security Board has recorded a significant increase in employment numbers and income growth from January to September 2023.
During this period, a total of 43,946 employed and self-employed contributors reported earnings amounting to $975 million.
The Prime Minister attributed this surge to the stability of the labor market and robust economic growth, which are key factors that have contributed to a noteworthy increase in contribution income to the Social Security Board.
The figures show a remarkable $15.4 million, or a 12% increase, compared to the same period in 2019.
The Prime Minister expressed confidence in the Social Security Board’s future outlook, citing sustained economic growth and the implementation of approved adjustments in 2016.
These measures position the Board for an even stronger stance in fulfilling its pension obligations and providing other vital benefits.
The allocation of 90% of the Social Security Board’s income to pension benefits is particularly noteworthy.
This critical lifeline serves as a safety net for many citizens in Antigua and Barbuda, and it fortifies the stability of the social protection architecture.
Prime Minister Browne emphasized that the presented figures are not mere statistics, but they represent the tangible impact of his government’s policies.
He called for the collective commitment of the nation to a future where every citizen thrives and urged citizens to view these positive trends as an inspiration to uphold a shared vision for prosperity.