Nicholas Brathwaite - Technology, Innovation and Entrepreneu

CHALLENGES FACING THE OECS

3.

1.

2. UNEMPLOYMENT

RISING POVERTY Set to increase by nearly 10%

ECONOMIC GROWTH Lowest in decades

20%+ over past decade.

GDP (Current US$)

UNEMPLOYMENT FORECASTS (SOURCE: UNICEF, ILO)

$2.5B

Before

Pandemic

Antigua and Barbuda Dominica Grenada St. Kitts and Nevis St. Lucia St. Vincent and the Grenadines

30%

Antigua and Barbuda

8.7%

$2.0B

40%

Grenada

10%

25%

Montserrat

7%

$1.5B

28%

St. Kitts & Nevis

2%

44%

St. Lucia

21%

$1.0B

39%

St. Vincent & The Grenadines

20%

$0.5B

Jobs lost between March & December 2020 in SVG 2754

Of GDP for OECS States is Tourism dependent 40%+

Our projected external current account defcit. -21.4%

$0.0B

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

SOURCE(S):

1. World Bank - World Development Indicators Dataset (2019)

2. World Bank Group OECS Systematic Regional Diagnostic (2018) 3. Caricom