St. Lucia: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for St. Lucia
IMF Staff Country Reports, June 20, 2018
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- St. Lucia: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for St. Lucia
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Bibliographic details
- Published: June 20, 2018
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484362617.002
Growth and macroeconomic performance
- GDP growth reached 3 percent in 2017, sustained by robust activity in several sectors.
- Short-term outlook: GDP growth is expected to remain buoyant in the near term.
- Prospects beyond the near term are described as sobering.
Tourism and external sector
- Strong recovery in tourism driven by favorable external conditions, hotel expansions, and the addition of new flights.
- Stay-over arrivals rose by 11 percent, identified as the fastest growth in the Caribbean.
- Backed by strong tourism inflows, the current account balance strengthened.
Labor market and social indicators
- Unemployment declined from 21.3 percent in 2016 to 20.2 percent in 2017.
- Youth unemployment remains high at 38.5 percent.
- Labor force participation has fallen (no numeric value provided).
Risks and outlook
- Short-term outlook is favorable due to buoyant growth and tourism recovery.
- Medium- to long-term prospects are sobering (no numeric projections provided).
Content in this bundle
- Country Report