St. Lucia: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for St. Lucia

June 20, 2018

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Format: Chicago

St. Lucia: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for St. Lucia, (USA: International Monetary Fund, 2018) accessed November 17, 2024

Summary

This 2018 Article IV Consultation highlights that the GDP growth in St. Lucia reached 3 percent in 2017, sustained by robust activity in several sectors. Favorable external conditions, coupled with hotel expansions and the addition of new flights, generated a strong recovery in tourism, with stay-over arrivals rising by 11 percent, the fastest growth in the Caribbean. Backed by strong tourism inflows, the current account balance strengthened. Unemployment declined from 21.3 percent in 2016 to 20.2 percent in 2017, but youth unemployment remains high at 38.5 percent and labor force participation has fallen. The short-term outlook is favorable, but prospects beyond that are sobering. GDP growth is expected to remain buoyant in the near term.

Subject: Banking, Economic and financial statistics, Environment, External sector statistics, Fiscal policy, Fiscal stance, Natural disasters, Public debt, Public financial management (PFM)

Keywords: Caribbean, CARTAC Customs Administration, CR, Expenditure outlay, External sector statistics, Fiscal stance, GDP, Global, Growth prospect, Investment, ISCR, Natural disasters, Tourism sector, Tourist inflow, Youth unemployment

Publication Details

Pages:

86
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2018/179
Stock No:

1LCAEA2018001
ISBN:

9781484362617
ISSN:

1934-7685

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