Saint Lucia’s economic projections for 2022. GDP growth is on course to move upwards from 8% to 9.5%

By OPM

2022 is poised to end on an encouraging note for Saint Lucia. The Economic Commission for Latin America and the Caribbean (ECLAC) has indicated that GDP growth for the Caribbean region [excluding Guyana] is forecast at 3.1% in 2022.

ECLAC has also revised Saint Lucia’s economic projections for 2022. GDP growth is on course to move upwards from 8% to 9.5%. ECLAC’s revised projections was made public on October 19, 2022.

The Latin America and the Caribbean region will continue to endure unfavorable international conditions in 2023 which could slow economic expansion. However, the Pierre Administration’s strategic fiscal interventions and prudent monetary policies as evidenced in 2022, is expected to shield Saint Lucia from some of the adverse impact of inflationary pressures and volatility affecting international markets.