BASSETERRE, ST. KITTS (February 22nd 2017) – Two years after taking over a strong economy, the Team Unity Government of Prime Minister Dr. the Hon. Timothy Harris, has the twin-island Federation in a tail spin.
Last month, the Eastern Caribbean Central Bank (ECCB) revised its estimate on the St. Kitts and Nevis economy decreasing the growth from 3.02 percent of GDP to 2.84.
The revised ECCB figures places the St. Kitts and Nevis economy, once the leader in the ECCU, the Caribbean and Latin America, in fourth place in the ECCU.
According to the ECCB three other member states in the OECS are out front of St. Kitts and Nevis. Anguilla is at (4.5 percent GDP), Antigua and Barbuda (4.29 percent) and St. Vincent and the Grenadines (2.90 percent GDP).
The ECCB puts Dominica’s growth rate at 1.53 percent; Grenada, 1.68; Montserrat, 1.34 and St. Lucia (0.73).
With an economic growth of 4.88 percent in 2015, the IMF had forecast a slowdown to 3.5 percent in 2016 and a 3 percent growth over the medium term.
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