PM Gonsalves welcomes the IMF’s predictions for economic growth in SVG

The content originally appeared on: NBC SVG

Prime Minister Dr. Ralph Gonsalves has welcomed the report from the International Monetary Fund, following the 2022 Article Four Consultation Discussions on Economic Development and Macro-Economic Policies.

An IMF Mission visited St. Vincent and the Grenadines from August 18th to 31st and concluded that the country is expected to achieve five percent economic growth in 2022 and growth is projected to strengthen to six percent in 2023 as major projects get into full swing.

Speaking on NBC Radio yesterday, Prime Minister Gonsalves said it is a favorable statement from the International Monetary Fund.

https://www.nbcsvg.com/wp-content/uploads/2022/09/IMF-SVG-MISSION.mp3

The IMF says the Government’s strong efforts to strengthen tax administration have been instrumental in sustaining revenue collections and should continue.

It welcomes the continued commitment to reaching the regional debt ceiling and the medium-term fiscal strategy set out in the 2021 Rapid Credit Facility.