June 2020 Economic and Financial Review

June 2020 Economic and Financial Review

GRENADA

receipts are estimated to have declined by

anticipated to remain sluggish in the

50.1 per cent to $117.7m, consistent with

upcoming peak season, leading to an overall

the fall in tourist arrivals.

contraction in GDP in 2020. The extent of

the contraction is contingent on the ability of

the authorities to kick start the economy

Outlook

through the implementation of public sector

The near-term economic outlook for

construction projects. Other downside risks

Grenada is bleak, mainly due to the

to the outlook include an escalation of global

continued adverse effects of the COVID-19

trade tensions and natural catastrophes. On

pandemic on international travel demand.

the upside, the economy will continue to

Despite the re-opening of borders to

benefit from lower global oil prices.

commercial flights, tourism activity is

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