Grenada Broadcasting Network

21st April 2024

  

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Grenada’s GDP is expected to grow in 2022 as reports from the IMF highlight an economical uptick in the country’s economy.

This was highlighted by members of the International Monetary Fund a part of their consultations in Grenada under Article IV of the IMF’s Articles of Agreement.

IMF mission Chief to Grenada Huidan Lin says Grenada’s GDP is estimated to have expanded by 5.6 percent in 2021 as stay-over tourist arrivals picked up strongly in the last months of last year, while construction and agriculture rebounded faster.

This comes as a five-member team from IMF conducted its annual economic Surveillance mission in Grenada, from February 15th to the 25th. The team met with major stakeholders to get a sense of Grenada’s economic performance in 2020 and 2021 in which a report on the team findings was made.

Officials from the International Monetary Fund say Grenada’s economy is bouncing back, after experiencing the hard hit of the COVID-19 pandemic.

Grenada’s Real GDP is projected to expand in 2022.

Continued fiscal support she said will assist in strengthening the economy.

Finance Minister Gregory Bowen hopes the country’s economic recovery is sustained.

A more prolonged pandemic, with implications for tourism, higher food and oil prices, and prolonged supply chain disruption could lead to further increases in inflation, including through second-round effects on Grenada.

 

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