singing anything but the blues. Today, Finance Minister Grant Gibbons outlines progress on pledges made in the economic area in the first of a series highlighting the eight separate areas of the document.

*** A firm hand on the purse strings has helped pay for Government's assault on social problems, a top Minister claimed yesterday.

And a bigger overseas presence at major economic events has helped boost international business expenditure in Bermuda by a whopping $240 million a year between 1993 and 1996 -- taking the '96 total spend to $630 million.

Finance Minister Grant Gibbons said the 1994 Government Blueprint target for economic growth had been set for two percent a year for a decade.

But he added that the real rate of growth so far averaged four percent a year since 1993.

Dr. Gibbons said: "What it really means is we have created more than 1800 jobs since 1993 -- and the ability to be able to spend the type of money on social programmes, which is a big part of the Blueprint. "Even though, on the surface, it looks rather uninteresting, it's a very important issue.

"When you realise that we have more than delivered. Our average economic growth from a Gross Domestic Product perspective has been more than double the Blueprint target.

"That has to indicate careful budgeting and very sound and prudent management.'' Dr. Gibbons added: "We have certainly created international business jobs and a tremendous increase in the upward mobility of Bermudians in these types of business as well.'' He was speaking after Premier Pamela Gordon said Government had fulfilled most of its promises in the last General Election Blueprint -- and that the rest were underway.

The economic area had 21 separate targets, the second highest number of the areas listed in the Blueprint.

Dr. Gibbons is the lead Minister in the area of the economy, one of eight separate categories.

He said he was particularly proud of progress on the reclamation of the old Base Lands -- abandoned by the US just as the Country was emerging from the end of a world-wide recession.

Dr. Gibbons added: "There have been 60 odd new jobs -- most of them Bermudian -- a plan for the utilisation of the Base Lands.

"The Bermuda Land Development Corporation is getting on with a number of things, creating opportunities for small businesses, recreation areas and large tourism developments like that at Morgan's Point, which is moving ahead again.'' Dr. Gibbons also highlighted legislation to create a National Pensions Scheme.

He said: "This is very important, not only for those working now but for Bermudian seniors.'' Other Government initiatives highlighted by Dr. Gibbons included the opening up of the telecommunications market -- with TeleBermuda International now competing with Cable & Wireless for the international phone call sector.

He said: "This is improving services and creating jobs. There has been a 16 percent increase in jobs in this area since the creation of the new policy.'' Dr. Gibbons summed up: "When you consider the number of things which actually have been accomplished, it's really quite extraordinary.'' Dr. Gibbons said cuts in duties paid by hotels on improvements had helped boost work at Elbow Beach and Sonesta.