Grenada

This 2002 Article IV Consultation highlights that real GDP of Grenada declined by 3 percent in 2001, reflecting the global slowdown, completion of most of the large infrastructure and tourism projects, and the effects on tourism of the September 11 attacks in the United States. The fiscal situation deteriorated markedly in 2001 with the central government deficit rising to 8.5 percent of GDP. For 2002, despite damage to crops and infrastructure caused by a tropical storm in September, economic growth is expected to be slightly positive.Economic conditions;Article IV consultations;government deficit, current account, central bank, external debt, public finances, current account balance, balance of payments, debt service, public sector debt, capital expenditure, debt sustainability, debt dynamics, external borrowing, fiscal consolidation, public debt, fiscal situation, capital expenditures, fiscal sustainability, public and publicly guaranteed debt, debt sustainability analysis, public and publicly guaranteed, current account deficit, domestic debt, tax base, public expenditure, debt management, government revenue, debt management strategy, fiscal deficits, tax administration, fiscal policies, debt burden, tax revenue, external shocks, debt-service, tax system, fiscal surpluses, fiscal target, fiscal position, interest expenditure, fiscal measures, commercial borrowing, fiscal stance, concessional debt, commercial borrowings, amortization payments, external loans, fiscal vulnerabilities, general resources account, external public debt, fiscal transparency, fiscal issues, fiscal convergence, external debt service, budget projections, tax reform, fiscal consolidation efforts, domestic savings, revenue collection, fiscal soundness, stock of debt, debt stock, fiscal outturn, repayments, domestic financing, tax breaks, annual budget, fiscal restraint, fiscal accounts, debt situation, fiscal deficit