Invited to the CCISM premises in the presence of professionals and the local press, two representatives of the Overseas Departments Emission Institute (IEDOM) presented the annual economic report on Saint-Martin.
The platform was occupied by Thierry Beltrand, Director of IEDOM Guadeloupe, Saint-Martin and Saint-Barthélemy, and Kévin Durand, Head of Studies & Credit Institutions. The first, director for 32 years, began this presentation of figures on the economy of the Northern Islands by expressing his joy at having resumed contact with the officials of Saint-Martin with the desire to be more present, aware that There are still improvements to be made in the collection of data and analyzes given the cruel lack of information of this type in the territory. Since the creation of an advisory committee 5 years ago, IEDOM aims to isolate more data specific to Saint Martin, by setting up the business climate index (ICA) in order to collect economic information that will give a more precise measure of GDP. As the IEDOM Reception and Information Office (BAI) in Saint Martin has been closed for two years, Thierry Beltrand will reopen it by next month, with the monthly permanence of an agent to, for example, inform and guide people in over-indebtedness. Regarding the figures for 2020, the health crisis will have had consequences on all sectors. Tourism first of all, a sector already weakened since the passage of Irma, where the IEDOM has observed a 70% drop in attendance on the island. Note the preference of tourists for Airbnb type accommodation instead of hotels, thus minimizing interactions and the risk of contamination. Closely linked to the economic development of the island, the construction sector saw a reduction in the number of employees by 24% and cement consumption by 13,7%. The unemployment rate remains high (one third of the population) and the net migration deficit. But banking activity is maintained, supported by State Guaranteed Loans (PGE) with an increase of 15,7% for companies. The outlook for 2021 is reserved but optimistic, even if the recovery should also depend in the short to medium term on the vaccination coverage of the population which remains low at this stage, as in Guadeloupe and Martinique. In this context, IEDOM, which plays the role of central bank under the authority of the Banque de France, ensures its neutral, free and accessible contribution in various ways, such as by offering local missions in partnership with the National Education and the Rectorate of the Academy of Guadeloupe: basic training on simple questions such as opening a bank account will be set up from March 2022 for the 3rd and 4th SEGPA classes at the college of Monts des Accords and at the Roche Gravée college in the Orleans district. The detailed IEDOM report will be available online next week. _VX
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