IMF predicts Economic Growth for the country in 2017

The IMF has projected a 3 percent growth for Antigua and Barbuda in 2017.

That is according to Meredith Arnold McIntyre who led a recently concluded International Monetary Fund (IMF) mission to Antigua and Barbuda during October 26-November 7 to conduct the 2016 Article IV Consultation.

At the conclusion of the visit, Mr. McIntyre made the statement that the economy is expected to expand by 3.7 percent in 2016, underpinned by the continued recovery in the tourism sector and investment in new and existing tourist facilities, including the new cruise ship pier.

He said in 2017 growth is projected to moderate to 3 percent, mainly reflecting still tight financing conditions for the public and private sector.

Inflation declined to around zero in the first half of 2016, mostly due to fuel price adjustment and continued softness in global commodity prices, and according to the IMF representative Inflation is projected to remain at low levels for the rest of this year and into 2017.

News Reporter

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