A country report released by the Eastern Caribbean Central Bank (ECCB) earlier this month, states that “the economy of St. Kitts and Nevis is projected to continue its recovery over the medium term.”

According to Director of Research, Statistics and Data Analytics at the ECCB, Teresa Smith, said this recovery will be “fueled by a rebound in tourism services, greater agricultural production, digitalization, and increased investment in public infrastructure.”

The rebound of SKN’s economy comes at a time when the world is still facing economic challenges brought by the negative fallout of the war in Ukraine and related sanctions as well as high inflation.

Furthermore, the International Monetary Fund (IMF), in their 2023 Article IV consultation report in January, said “Growth is projected at 4.5 percent in 2023, supported by a strong recovery in tourism and other service sectors”, for the Federation’s economy.