IMF Staff Country Reports

Growth is expected to be subdued in the near term before converging to its potential of 2 percent over the medium term, as tourism growth slows, reflecting capacity constraints, and commodity prices subside. Consequently, the public debt-to-GDP ratio is projected to fall more slowly, remaining around 58 percent through 2030 under the baseline. Risks to the outlook include increased trade barriers and global trade policy uncertainty, higher-for-longer global interest rates, and natural disasters.