St. Kitts and Nevis [electronic resource] : Recent Economic Developments.
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TextSeries: IMF Staff Country Reports; Country Report ; No. 95/59Publication details: Washington, D.C. : International Monetary Fund, 1995Description: 1 online resource (64 p.)ISBN: 1451821921 :ISSN: 1934-7685Subject(s): Central Bank | Current Account | Domestic Debt | Expenditure | External Debt | Saint Kitts and NevisAdditional physical formats: Print Version:: St. Kitts and Nevis : Recent Economic DevelopmentsOnline resources: IMF e-Library | IMF Book Store Abstract: This paper reviews economic developments in St. Kitts and Nevis during 1993-95. Economic performance was broadly satisfactory in 1993-94 with high real GDP growth, low inflation, and a favorable external position. Faced with increased external competition and reduced concessional aid flows, the government has pursued a development strategy aimed at diversifying the economy away from the sugar industry toward tourism-led activities. As a result, the tourism sector expanded rapidly, generating substantial employment opportunities and foreign exchange earnings, the economic structure being centered on service-oriented activities.
This paper reviews economic developments in St. Kitts and Nevis during 1993-95. Economic performance was broadly satisfactory in 1993-94 with high real GDP growth, low inflation, and a favorable external position. Faced with increased external competition and reduced concessional aid flows, the government has pursued a development strategy aimed at diversifying the economy away from the sugar industry toward tourism-led activities. As a result, the tourism sector expanded rapidly, generating substantial employment opportunities and foreign exchange earnings, the economic structure being centered on service-oriented activities.
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