2020 Annual Economic and Financial Review

2020 Annual Economic and Financial Review

ST CHRISTOPHER (ST KITTS) AND NEVIS

recorded, in contrast to a net lending position of $25.2m observed in 2019.

commercial real estate projects continue. Risks to this outlook are, skewed to the downside. If global economies experience a protracted recovery, the Federation’s recovery could also be slower than anticipated. Additionally, new variants of the virus could threaten to erode progress made in reducing its transmission. St Kitts and Nevis also remain vulnerable to natural disasters.  On the upside, a faster global recovery would have positive knock-on effects on the economy of St Kitts and Nevis. Moreover, the continued implementation of fiscal countermeasures by the Federal Government could partially temper recessionary conditions. 

Outlook

Following the sharp economic contraction in 2020 and amid considerable uncertainty, the economy is forecasted to partially recover in 2021.

The is anticipated to recover slowly as approved vaccines are distributed globally and containment measures ease. Additionally, the construction and agricultural sectors are also expected to contribute to the recovery as the government continues to invest in these areas. Private sector construction is also anticipated to accelerate as the construction of a number of residential and tourism industry

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