• Latest
No Holiday for Carriacou Carnival

2020 Economic Review & Medium-Term Outlook

1 year ago
UNESCO Transcultura Call for young Caribbean Creatives

UNESCO Transcultura Call for young Caribbean Creatives

9 hours ago
UNESCO Participation Programme 2018-2019; Funding Up to US$26,000 Available

Call for CCI Development Grant Applications Industry Grant (Round 1)

10 hours ago
Happy 48th Anniversary of Independence to Grenada!

Candidates’ qualification for Election Day

11 hours ago
World Bank approves US$25 million for Grenada

World Bank approves US$25 million for Grenada

19 hours ago
Pearlina Thomas and Chad Welch to Represent Grenada in China

TAMCC Institutional Registration Certificate Presentation Ceremony

1 day ago
Youngest black US law school graduate rewarded with trip to Grenada

Youngest black US law school graduate rewarded with trip to Grenada

2 days ago
SMC statement on water sponsorship and vending

Important meeting for Calypso/Groovy/Soca Artistes

2 days ago
Claims of coronavirus at SGU designed to create fear and panic

Covid-19 update: Grenada Dashboard 24 May 2022

2 days ago
JPMorgan warns 10% of junk-rated emerging markets facing debt crises this year

JPMorgan warns 10% of junk-rated emerging markets facing debt crises this year

2 days ago
Health Ministry monitoring reports of Monkeypox outbreak overseas

Health Ministry monitoring reports of Monkeypox outbreak overseas

2 days ago
Grenada moves a step closer to providing CT scans

Grenada moves a step closer to providing CT scans

2 days ago
Tanteen Road Closes At Noon

Temporary road closure: Mt Millette Road

2 days ago
NOW Grenada

Main Header Ad 468x60

  • Front Page
  • Categories
    • General News
      • All
      • Agriculture & Fisheries
      • Arts & Culture
      • Business
      • Education
      • Environment
      • Health
      • History
      • Lifestyle
      • Law
      • Politics
      • Technology
      • Travel & Tourism
      • Weather
      • Youth
    • Sports
      • All
      • Athletics
      • Cricket
      • Football
      • Watersports
    • Community
      • All
      • Tribute
    • Crime
    • Features
      • All
      • Today in History
    • Opinion/Commentary
    • Press Releases
      • All
      • Advertisements
      • Notices
  • Video
  • Notices & Vacancies
  • Advertise
  • Contact Us
No Result
View All Result
  • Front Page
  • Categories
    • General News
      • All
      • Agriculture & Fisheries
      • Arts & Culture
      • Business
      • Education
      • Environment
      • Health
      • History
      • Lifestyle
      • Law
      • Politics
      • Technology
      • Travel & Tourism
      • Weather
      • Youth
    • Sports
      • All
      • Athletics
      • Cricket
      • Football
      • Watersports
    • Community
      • All
      • Tribute
    • Crime
    • Features
      • All
      • Today in History
    • Opinion/Commentary
    • Press Releases
      • All
      • Advertisements
      • Notices
  • Video
  • Notices & Vacancies
  • Advertise
  • Contact Us
No Result
View All Result
NOW Grenada
No Result
View All Result

Article Header

2020 Economic Review & Medium-Term Outlook

This story was posted 1 year ago
3 December 2020
in Business, PRESS RELEASE
1 min. read
Share

Prepared by the Ministry of Finance, Economic Development, Physical Development, Public Utilities and Energy

November 2020

Overview

Consistent with global economic trends due to the impact of the coronavirus, Real GDP growth is projected to fall in 2020 by 12.2% underpinned by notable declines in key sectors such as Tourism, Wholesale and Retail Trade, and Transport. Activity in the Manufacturing Sector and the Agricultural Sector are also expected to fall relative to last year due to the effects of Covid-19. Average inflation, as measured by the Consumer Price Index was negative for the first 6 months of 2020 at -0.6% reflective of falling global oil prices. Preliminary data collected from the quarter two Labour Force Survey indicate increased unemployment at a rate of 28.4% compared to 15.7% in the second quarter of 2019.

Public finances have deteriorated in 2020, with the primary and overall surpluses estimated at 2.9% of GDP and 0.9 percent of GDP respectively, compared to 6.8% of GDP and 4.6% of GDP correspondingly in 2019. Public debt is expected to increase to 68.6% of GDP by year-end from 57.7% at the end of 2019.

Loader Loading...
EAD Logo Taking too long?

Reload Reload document
| Open Open in new tab

Download [1.39 MB]

NOW Grenada is not responsible for the opinions, statements or media content presented by contributors. In case of abuse, click here to report.
Tags: budgetcoronaviruscovid-19debtgdpinflationministry of financeunemployment
Next Post
RGPF

St Andrew man allegedly breaks in, rapes 63-year-old

Comment on post Cancel reply

Please enter your valid email address.
Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Home Sidebar NP 300x250

© NOW Grenada. All Rights Reserved. Published by Aqua Design Inc. | Terms of Use | Privacy Policy

No Result
View All Result
  • Front Page
  • Categories
    • General News
      • All
      • Agriculture & Fisheries
      • Arts & Culture
      • Business
      • Education
      • Environment
      • Health
      • History
      • Lifestyle
      • Law
      • Politics
      • Technology
      • Travel & Tourism
      • Weather
      • Youth
    • Sports
      • All
      • Athletics
      • Cricket
      • Football
      • Watersports
    • Community
      • All
      • Tribute
    • Crime
    • Features
      • All
      • Today in History
    • Opinion/Commentary
    • Press Releases
      • All
      • Advertisements
      • Notices
  • Video
  • Notices & Vacancies
  • Advertise
  • Contact Us

Copyright NOW Grenada

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in settings. Visit our Privacy Policy | Terms of Use.

Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. Visit our Privacy Policy | Terms of Use.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.