The Caribbean Development Bank summarizes Grenada’s economic growth projection to 3.5% in 2019, down from the originally projected 4.5.
This is contained in the Bank’s 2019 Country Economic Review Mid-Year Updates.
The Grenada Update shows Real GDP grew by 4.1% last year, lower than the Bank’s previous estimate of 5.2%, reported in the Country-Economic Review in March this year.
It says the lower estimate reflects slower than anticipated activity in private education, and that education activity contracted by 6.5% in 2018.
Moving its growth projection down to 3.5%, from 4.5 is on account of lower foreign direct investment-related construction, as major projects such as the St. George’s
University expansion and Silver Sands Resort (Phase One) wind down.
The CDB update shows Tourism expecting to remain buoyant.
It speaks of the sector’s strong performance in the first five months of the year, when there was a 5% growth in stayover arrivals.
