St. Kitts-Nevis Projected to have 2nd Highest Growth Rate in the OECS for 2016 Says IMF
Basseterre, St. Kitts — According to the Latest Reports by the IMF St.Kitts-Nevis is projected to have the Second Highest Growth Rate among OECS Countries and the 4th Highest in the Caribbean Region. The International Monetary Fund (IMF) predicts that overall growth in the Caribbean will improve.
Growth in St.Kitts-Nevis is expected to be around 3.0% which is 50% higher than the Caribbean wide 2016 projected growth rate of 2.0%. St.Vincent and the Grenadines is expected to have the highest growth rate among OECS Countries with a 3.1% growth projected for 2016.
At the top of the IMF’s Caribbean growth table is the Dominican Republic, which is expected to record robust economic growth in the order of 5.1 per cent in 2015, and 4.5 per cent in 2016. Energy-rich Trinidad and Tobago, which was recently downgraded by Moody’s, is expected to grow by 1.2 per cent this year and 1.5 per cent in 2016.
In Commenting on the IMF Projection Prime Minister and Minister of Finance Dr. Timothy Harris stated “ Now is the time to ensure that all can have a fair share of this nations prosperity. We will expand the middle class, invest in our people, create jobs by growing the economy. This is the foundation of a prosperous nation or we will create the foundation of a prosperous nation.”