Grenadian Economy to Grow 2.5 Percent in 2012: Report

By the Caribbean Journal staff

Grenada’s economy will grow 2.5 percent in 2012, according to a projection by the United Nations’ Economic Commission for Latin America and the Caribbean.

The country’s economy grew 2.1 percent in 2011, according to an estimate by the organization; in 2010, the country showed 0.0 percent growth.

The countries in the Eastern Caribbean Currency Union grew by 1.5 percent in 2011, after two consecutive years of negative growth, driven primarily by brisker activity in the tourism sector.

The Eastern Caribbean is projected to grow 2 percent in 2012, with tourism activity having a positive spillover effect onto the rest of the area’s economy.