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St. Kitts and Nevis Information
Growth Forecast Revised Upward for St Kitts and Nevis
2010-11-24 13:33:58 by
The International Monetary Fund (IMF) has revised upward its growth projections for the economy of St. Kitts and Nevis for 2011.
?While there are clear a sign that the economy has bottomed out and the recovery remains fragile, the good news is that the Four Seasons Resort is likely to reopen and that should boost economic activity,? said Alfred Schipke, Division Chief in the Caribbean 1 Division, Western Hemisphere Department of the IMF. He said the IMF is now projecting 1.5% growth, instead of 0.5%.
He indicated measures already in place by the government should yield positive results from 2011 onward. He said, "This is a comprehensive programme that covers a number of important areas, from a responsible fiscal policy, to the rationalisation of the public sector, and potentially to some areas that would alleviate the interest burden. All of that should move the country on a new trajectory, that will facilitate a dramatic reduction in debt levels. By doing so, these [measures]should create the conditions of confidence and strong private sector-led growth."
?While there are clear a sign that the economy has bottomed out and the recovery remains fragile, the good news is that the Four Seasons Resort is likely to reopen and that should boost economic activity,? said Alfred Schipke, Division Chief in the Caribbean 1 Division, Western Hemisphere Department of the IMF. He said the IMF is now projecting 1.5% growth, instead of 0.5%.
He indicated measures already in place by the government should yield positive results from 2011 onward. He said, "This is a comprehensive programme that covers a number of important areas, from a responsible fiscal policy, to the rationalisation of the public sector, and potentially to some areas that would alleviate the interest burden. All of that should move the country on a new trajectory, that will facilitate a dramatic reduction in debt levels. By doing so, these [measures]should create the conditions of confidence and strong private sector-led growth."