BASSETERRE, St. Kitts, CMC – The International Monetary Fund (IMF) Tuesday revised downwards the estimate of economic growth for 2012 in St. Kitts and Nevis.
An IMF delegation, which has ended a one week visit to the island, downgraded the growth from minus 0.7 to minus 0.9 percent, reflecting a decline in tourism in the third quarter.
“However, an expected pick-up in tourism and the launching of several construction projects in 2013 will contribute to a recovery in activity, with economic growth projected at nearly two per cent. Inflation has eased to 0.3 per cent at end-2012,” said George Tsibouris, who headed the IMF team.
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