June 2020 Economic and Financial Review

June 2020 Economic and Financial Review SAINT LUCIA

pandemic is expected to have a deleterious

Resilience Plan, which has allocated

impact on all major sectors of the economy.

$548.4m to the Covid-19 recovery effort.

In addition, the government’s fiscal position

Estimated at 10.9 per cent of GDP, the plan

will continue to be challenged as revenues

aims to fast-track a suite of public sector

stagnate in the face of mounting

capital projects, among other initiatives, that

expenditures. Another critical downside

will generate jobs and protect livelihoods.

risk is the above average Atlantic hurricane

Some of the projects include the renovation

season projected for 2020. The possibility

and expansion of the Hewanorra

of a major hurricane making landfall would

International Airport, the reconstruction of

undoubtedly exacerbate an already fragile

St Jude hospital and upgrading of the

economy.

Millennium Highway and the West Coast

Road. Additionally, some support is also

Despite the aforementioned, the economy of

expected from the agricultural sector as

Saint Lucia is expected to receive some

banana production is projected to increase in

support from the implementation of the

2020.

government’s Economic Recovery and

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