{"id":319119,"date":"2024-03-17T08:30:59","date_gmt":"2024-03-17T12:30:59","guid":{"rendered":"https:\/\/dominicanewsonline.com\/news\/?p=319119"},"modified":"2024-03-16T22:02:34","modified_gmt":"2024-03-17T02:02:34","slug":"imf-reports-positive-2024-25-economic-trajectory-of-4-5-percent-growth-for-dominica","status":"publish","type":"post","link":"https:\/\/dominicanewsonline.com\/news\/governance\/imf-reports-positive-2024-25-economic-trajectory-of-4-5-percent-growth-for-dominica\/","title":{"rendered":"IMF reports positive 2024\/25 economic trajectory of 4.5 percent growth for Dominica"},"content":{"rendered":"<div class=\"flex-1 overflow-hidden\">\n<div class=\"react-scroll-to-bottom--css-aeguc-79elbk h-full\">\n<div class=\"react-scroll-to-bottom--css-aeguc-1n7m0yu\">\n<div class=\"flex flex-col text-sm pb-9\">\n<div class=\"w-full text-token-text-primary\" data-testid=\"conversation-turn-3\">\n<div class=\"px-4 py-2 justify-center text-base md:gap-6 m-auto\">\n<div class=\"flex flex-1 text-base mx-auto gap-3 md:px-5 lg:px-1 xl:px-5 md:max-w-3xl lg:max-w-[40rem] xl:max-w-[48rem] group final-completion\">\n<div class=\"relative flex w-full flex-col agent-turn\">\n<div class=\"flex-col gap-1 md:gap-3\">\n<div class=\"flex flex-grow flex-col max-w-full\">\n<div class=\"min-h-[20px] text-message flex flex-col items-start gap-3 whitespace-pre-wrap break-words [.text-message+&amp;]:mt-5 overflow-x-auto\" data-message-author-role=\"assistant\" data-message-id=\"ff01236e-1e6b-41ed-801e-af9883658ef5\">\n<div class=\"markdown prose w-full break-words dark:prose-invert dark\">\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-248964\" src=\"https:\/\/dominicanewsonline.com\/news\/wp-content\/uploads\/2020\/05\/imf-loan--642x368.jpg\" alt=\"\" width=\"640\" height=\"367\" \/><\/p>\n<p>Dominica is anticipated to experience a steady growth trajectory, averaging around 4\u00bd percent during the period of 2024-25, as per recent projections by the International Monetary Fund (IMF). This positive outlook, outlined in the IMF&#8217;s Staff Concluding Statement following its 2024 Article IV Mission in Dominica held from March 5-14, attributes the expected growth to various factors. These include the resurgence of stayover tourism to pre-pandemic levels, expansions in agriculture initiatives, and advancements in crucial infrastructure projects deemed as priorities.<\/p>\n<p>The IMF&#8217;s report underlines an optimistic future, emphasizing the anticipated recovery of stayover arrivals, the execution of pivotal investment plans, and responsible fiscal management. Furthermore, inflation is forecasted to stabilize at around 2 percent in alignment with trading partner dynamics.<\/p>\n<p>Key projects such as the transition to geothermal production, developments in the aviation sector including the new airport, and endeavors to enhance infrastructure resilience are poised to yield sustainable growth benefits while mitigating external imbalances.<\/p>\n<p>Highlighting significant economic indicators, the IMF pointed out that inflation has receded from its peak of 9.7 percent in 2022 to 2.3 percent by the end of 2023, largely attributed to favorable shifts in global commodity prices. Moreover, favorable terms of trade coupled with robust service exports have contributed to a reduction in the current account deficit to 26.2 percent.<\/p>\n<p>Looking ahead, the IMF anticipates a gradual narrowing of the current account deficit over the medium term, propelled by the rise in tourism exports and a steady decline in imports of investment goods and fuel. Despite challenges, such as elevated public debt, the IMF remains optimistic, expecting a gradual reduction in public debt supported by prudent fiscal policies.<\/p>\n<p>Additionally, the IMF report lauds the resilient performance of the financial system and acknowledges the gradual improvement in the fiscal position, while also urging continued vigilance against potential risks stemming from global uncertainties, climate change, and fluctuating Citizenship-by-Investment (CBI) flows.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"mt-1 flex justify-start gap-3 empty:hidden\">\n<div class=\"text-gray-400 flex self-end lg:self-center items-center justify-center lg:justify-start mt-0 -ml-1 h-7 gap-[2px] visible\">\n<div class=\"flex\"><\/div>\n<\/div>\n<\/div>\n<div class=\"pr-2 lg:pr-0\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"w-full pt-2 md:pt-0 dark:border-white\/20 md:border-transparent md:dark:border-transparent md:w-[calc(100%-.5rem)]\">\n<form class=\"stretch mx-2 flex flex-row gap-3 last:mb-2 md:mx-4 md:last:mb-6 lg:mx-auto lg:max-w-2xl xl:max-w-3xl\">\n<div class=\"relative flex h-full flex-1 flex-col\">\n<div class=\"flex w-full items-center\">\n<div class=\"overflow-hidden [&amp;:has(textarea:focus)]:border-token-border-xheavy [&amp;:has(textarea:focus)]:shadow-[0_2px_6px_rgba(0,0,0,.05)] flex flex-col w-full flex-grow relative border dark:text-white rounded-2xl bg-token-main-surface-primary border-token-border-medium\">\n<div data-grammarly-part=\"button\">\n<div>\n<div>\n<div class=\"amkYk\">\n<div>\n<div class=\"ptGJG\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/form>\n<\/div>\n","protected":false},"excerpt":{"rendered":"Dominica is anticipated to experience a steady growth trajectory, averaging around 4\u00bd percent during the period of 2024-25, as per recent projections by the International Monetary Fund (IMF). This positive outlook, outlined in the IMF&#8217;s Staff Concluding Statement following its&#8230;","protected":false},"author":13,"featured_media":248964,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_cbd_carousel_blocks":"[]","footnotes":""},"categories":[36,286,235,285,9],"tags":[],"class_list":["post-319119","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy-development","category-governance","category-homepage-carousel","category-infrastructure","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>IMF reports positive 2024\/25 economic trajectory of 4.5 percent growth for Dominica - Dominica News Online<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dominicanewsonline.com\/news\/governance\/imf-reports-positive-2024-25-economic-trajectory-of-4-5-percent-growth-for-dominica\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMF reports positive 2024\/25 economic trajectory of 4.5 percent growth for Dominica - Dominica News Online\" \/>\n<meta property=\"og:description\" content=\"Dominica is anticipated to experience a steady growth trajectory, averaging around 4\u00bd percent during the period of 2024-25, as per recent projections by the International Monetary Fund (IMF). 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