June 2020 Economic and Financial Review

June 2020 Economic and Financial Review SAINT CHRISTOPHER (ST KITTS) AND NEVIS

SAINT CHRISTOPHER (ST KITTS) AND NEVIS

Overview

Economic data available at the time of

Fiscal

countermeasures

by

the

writing point to an unparalleled

government, however, have been

contraction in economic activity in Saint

implemented to moderate the impact.

Christopher (St Kitts) and Nevis in the

Construction activity, which accounts for

first half of 2020, due to the COVID-19

over 15.0 per cent to the Federation’s

Great uncertainty surrounds

pandemic.

economic activity on average, is estimated

forecasts for the remainder of the year and

to have decelerated, as both public and

beyond.

private sector projects were temporarily

stalled due to lockdown and curfew

Real Sector Developments

restrictions. However, several public sector

Economic activity in St Kitts and Nevis is

capital projects continue as a stimulus to

estimated to have declined in the first two

limit the negative impact of the pandemic

quarters of 2020, relative to activity in the

were implemented. These projects include

comparable period of the previous year.

phase two of the resurfacing of the Island

This development was a result of the

Main Road, the Old Road Bay project, the

COVID-19 pandemic, which necessitated

Airport Infrastructure Rehabilitation Project

the implementation of containment

by the St Christopher Air and Sea Ports

measures globally and in the Federation.

Authority

(SCASPA)

and

the

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