St Lucia to See Pick-Up in Agriculture, Tourism in 2013

Agriculture and Tourism, in St. Lucia, will soon regain some economic activity in 2013, according to the International Monetary Fund. 

The International Monetary Fund, which recently concluded its Article IV Consultation on St. Lucia states that "[a]ctivity is expected to regain some momentum in 2013, with an anticipated recovery in agriculture from a three‑year downturn, a pick-up in tourism, and a recent fiscal stimulus that may provide some support for economic activity... St Lucia has weathered the difficult post-crisis environment, becoming the largest economy in the Eastern Caribbean Currency Union (ECCU).”

The tabulated data projects that the country's real GDP should increase by 1.1 percent in 2013, compared to a decrease of 0.4 percent in 2012.

Actions needed to regain some economic activity in 2013, according to the International Monetary Fund:

• strengthen the education system;
• improve the business climate, including through a more efficient public sector;
• increase efficiency and reducing costs in product, labour and financial markets;
• pursue deeper regional integration