Grenada Economy is Expected to grow by 3%

Grenada’s economy is expected to grow by 3% this year, having grown more than 5% last year.

During a national address on Wednesday, 29 June, Finance Minister Dr the right Keith Mitchell pointed to several strong positive indicators in various sectors.

He is optimistic that the overall rate of job creation will improve, due to developments in the construction service and tourism sectors.

In the tourism sector, growth was led by a 32% increase in arrivals from the leading US market, and cruise ship arrivals increased by nearly 35%.

There was also a significant increase in the volume and value of nutmegs and mace production.

“The construction sector is projected to continue its positive growth in 2016 with ongoing private sector developments being complemented by the implementation of public sector investments including the construction of the Parliament Building, several activities under the Disaster Vulnerability Reduction Project and several road developmental projects,” Prime Minister Mitchell said.


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