Home News Packages IMF Predicting 4-5% Increase In Dominica’s Economy For 2O23-2O24.

IMF Predicting 4-5% Increase In Dominica’s Economy For 2O23-2O24.

The International Monetary Fund , IMF is predicting growth of  above 4 TO 5 percent for the Dominica economy for 2O23-2O24.

In a statement the IMF said the economic outlook is positive, predicated on a full recovery in tourism in the near term  , implementation of public investment plans and prudent fiscal management.

The IMF says growth is expected to stay above 4.5 percent in 2023-2024, as tourism returns to pre covid levels and the construction of the new international airport and geothermal power plant take hold.

The IMF says inflation is projected to recede to 6.3 percent in 2023 and to continue falling afterwards along with international trends

The international financial institution revealed that the current account de-fi-cit is expected to gradually narrow over the medium term with the increase in tourism exports on the back of expanded hotel and air transport capacity.

It said public debt is set to decline in coming years, although slowly, supported by a gradual consolidation of public finances

The IMF says the economy  is expanding strongly , but faces headwinds from global shocks.



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