Categories: News

Dominica to experience 4.5% economic growth, predicts IMF

Roseau, Dominica: Prime Minister Roosevelt Skerrit shared that as per the prediction of IMF, Dominica will experience an economic growth of 4.5 per cent in 2024/ 2025. The information has been shared by him in a press conference on Tuesday. 

The people of Dominica have witnessed a significant improvements, advancements and reformations in various sector which led to the overall development of the country. 

As per IMF reports, it estimates that inflation in the country is supposed to fall to 2 per cent in 2024/2025. While addressing this, PM Skerrit expressed his views regarding this recovery. He said such advancements benefit the tourism, expands agriculture and bring progress in infrastructure projects. 

“The most hopeful section of the IMF report says inflation will fall from its peak of 9.7% in 2022 to 2.3% in late 2023. I know that concerns have been raised regarding the prices of goods and products, but the figures are a great relief to us”, added the Prime Minister.

Noting this, the leader of Dominica remarked that several recent developments attributed to this milestone achievement such as country’s shift to geothermal energy production and progress on major infrastructural projects. 

These projects included some noteworthy developments like international airport and hotel expansion.

The government of Dominica received a heartfelt congratulations for their untiring efforts and continuous dedication to meet the requirements of its people. Moreover, reduction in the public wage bill also contributed to the overall development and growth of the country. 

While commenting on the public wage bill and fiscal space, the IMF predicted that the country will soon be exempted from the debts with the continuous efforts of the government. 

“The IMF commended the government of Dominica for their efforts to decrease spending, citing a decline in the public wage bill”, remarked PM Skerrit. 

To lead the economy to its highest heights, the government of Dominica is working diligently on the Cable Car project, which will have a positive impact on the financial state of the island nation. 

PM Skerrit has always been actively working for the welfare of the citizens and making strides towards reliable and resilient growth.

Gabriel Peters

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