Local outbreaks of COVID-19 (with 14 reported cases) could cause yet deeper and more prolonged contraction in activity. ... Grenada - Forecast 2020-2022. Grenada economic growth for 2019 was $1.23B, a 5.09% increase from 2018. The economy of Grenada is a largely tourism-based, small and open economy.Over the past two decades, the main thrust of Grenada's economy has shifted from agriculture to services, with tourism serving as the leading foreign currency earning sector. No claims are made regarding the accuracy of Grenada 2020 information contained here. ST. GEORGE”S, Grenada, May 11, 2020 (CMC) – Prime Minister, Dr. Keith Mitchell, says the global coronavirus (COVID-19) pandemic has significantly impacted economic growth, here, but he remains optimistic that the phased re-opening of the economy will help negate the situation. Grenada’s fiscal situation improved further in 2017, with the government over performing the targets of the Fiscal Responsibility Law (FRL). grenada economy news and analysis digest *Please note that Agriculture in Grenada: Business Report 2020 is a half ready publication. Grenada economic growth for … Grenada. Grenada economic growth for 2018 was $1.17B, a 3.82% increase from 2017. This page has economic forecasts for Grenada including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Grenada economy. Overview The report includes country-specific three-year forecasts for major macroeconomic indicators, including commodity and financial markets. It only requires updating with the help of new data that are constantly retrieved from Publisher’s databases and other sources. The GDP value of Grenada represents less than 0.01 percent of the world economy. NOTE: The information regarding Grenada on this page is re-published from the 2020 World Fact Book of the United States Central Intelligence Agency and other sources. The Gross Domestic Product (GDP) in Grenada was worth 1.23 billion US dollars in 2019, according to official data from the World Bank and projections from Trading Economics. The country's principal export crops are the spices nutmeg and mace (Grenada is the world’s second largest producer of nutmeg after Indonesia). 1 2020 ECONOMIC REVIEW & MEDIUM-TERM OUTLOOK GRENADA Prepared by the Ministry of Finance, Economic Development, Physical Development, Public Utilities and Energy Blue Growth. Grenada’s solid fiscal position and strong macroeconomic performance prior to the COVID-19 crisis are key mitigants.” ————–Ref. Data cited at: World Economic Outlook, October 2020, The International Monetary Fund. According to the IMF, the primary surplus increased to 5.75 per cent of GDP supported by buoyant tax revenues due to the strong economy, improved tax administration, and better compliance. Prime Minister Mitchell, in a radio and television broadcast, last night, … By Linda Straker CMC Correspondent. “The economy is now projected to contract by over 9 percent in 2020. Grenada Global Economic Prospects examines trends for the world economy and how they affect developing countries. Read more. The marine environment is critical to Grenada’s economy and closely linked to the island’s income generating tourism sector. (Press Secretary, Office of the Prime Minister, Grenada, May 14, 2020) – The International Monetary Fund (IMF) is predicting economic growth of 6.25% for Grenada in 2021.The projection is contained in the latest IMF Country Report on Grenada, issued Near-term outlook. Public Consultation -Road Traffic (amendment) Bill 2020 ... Read more. 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