ROSEAU, Dominica – The Dominican government has unveiled a comprehensive economic stabilization plan to protect its citizens and economy from the global reverberations of the Middle East conflict. Prime Minister Roosevelt Skerrit, addressing a press conference on Wednesday, delineated the multifaceted risks posed by the distant war, emphasizing its potential to trigger a surge in fuel prices, inflate food costs, destabilize employment, and weaken the national economy.
While assuring the nation is not under direct military threat, Skerrit warned of significant ‘economic aftershocks,’ noting the conflict has already precipitated the most substantial supply disruption in global oil market history. The island’s complete reliance on imported fuel places it at immediate risk, with projected spikes in electricity, transportation, and general consumer goods prices.
Confronting these challenges proactively, the government is rolling out a series of targeted interventions. The strategy includes temporary reductions on import duties and taxes for essential goods and an expansion of support for vulnerable households through existing social protection frameworks. A key focus will be managing energy costs through close collaboration with the Dominica Electricity Services (DOMLEC).
In a positive development, Skerrit highlighted the timely advancement of the nation’s geothermal energy project in Laudat, which is currently in an advanced testing phase. This domestic energy source is poised to provide crucial long-term relief from fossil fuel volatility.
Furthermore, the administration plans to engage with stakeholders in tourism, agriculture, and the private sector to safeguard jobs and ensure economic continuity. Fiscal management will be strengthened through the careful prioritization of government spending, maintaining critical services while deferring discretionary expenditures.
Prime Minister Skerrit concluded with a call for national unity and calm, drawing on the nation’s resilience in overcoming past hardships like hurricanes and pandemics, expressing confidence in Dominica’s ability to navigate the impending economic challenges.