Above: Premier McKeeva Bush (Photo: GIS)
By the Caribbean Journal staff
After a contraction of 4.1 percent a year ago in the Caymanian economy, Cayman recorded positive growth in the first six months of 2011, according to a report from Cayman’s Economics and Statistics Office.
Annual GDP growth for the entire 2011 year is projected at 0.9 percent.
The growth was led by the hotel and restaurant sector, which is estimated to have grown by 8 percent, supported mainly by renewed strength of air arrivals.
“[The positive growth] demonstrates that we, as the government, must continue to press ahead to ensure that the recovery strengthens and broadens to all economic sectors,” said Premier McKeeva Bush.