The World Bank, ECLAC, and the International Monetary Fund, among other international financial monitoring organizations, predict that Saint Lucia’s economy will continue to grow in 2024!
Every one of them predicts a rise in GDP. More Saint Lucians will be able to access higher-paying occupations because of this positive economic outlook. More companies will be willing to grow and add staff as a result of this confidence.
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In 2022 and 2023, the GDP grew by double digits under the leadership of Prime Minister Hon. Philip J. Pierre and his team. By the end of 2022, the national unemployment rate had dropped to 16.5%, the lowest level since 2013. However, more still has to be done.
The innovative business development strategies implemented by Prime Minister Pierre have freed our country’s spirit of entrepreneurship.
By using the Youth Economy Agency and the MSME Loan-Grant Facility, hundreds of Saint Lucians received grants and soft loans totaling millions of dollars from the government.
A BBB+ (Adequate) rating for Income and Economic Structure was obtained by the Prime Minister’s economic management from Caribbean Information and Credit Rating Services Limited (CariCRIS).
The Chamber of Commerce is announcing increased profitability for 2023 under Prime Minister Pierre’s direction. Over $2.5 billion is anticipated in foreign direct investment.
The budgetary policies that will foster investment, hasten the creation of jobs, and maintain Saint Lucia’s trajectory for steady economic growth are still being shaped by the Pierre Administration.
