Business
St. Kitts & Nevis recording economic recovery
Following a four-year contraction in economic activity in St. Kitts & Nevis, signs of an economic recovery are now emerging.
According to a report data provided by International Monetary Fund (IMF), “sustained commitment to prudent macroeconomic policies and reforms are still necessary to address remaining risks and vulnerabilities and to support stronger and inclusive growth.
The report further revealed that the twin-island nation, “needs to boost revenue” – the Denzil Douglas administration has implemented measures to improve revenue administration and broaden the tax base, however more needs to be done regarding tax exemptions.
Economic growth in St. Kitts & Nevis has not been negatively impacted by the political stalemate – where the opposition People’s Action Movement (PAM) party filed a motion of no confidence in the Douglas government.