Grenada economy expected to grow

The Grenada economy is expected to grow by 2.6 percent this year, higher than the Eastern Caribbean Currency Union (ECCU) average of 1.4 percent.

This was revealed by Prime Minister and Finance Minister Dr. Keith Mitchell during his presentation of the 2015 estimates or revenue and expenditures in Parliament recently.

Mitchell said the 2.6 percent economic growth being forecast surpasses the 1.5 percent projected when the 2014 budget was presented.

The leading sectors contributing to an improvement in the local economy have been identified as tourism, agriculture and education.

The Grenadian leader disclosed that tourist arrivals grew by 16.4 percent for the first nine months of the year.

Factors contributing to the rise include the opening of Sandals hotel, improved airlift and some aggressive marketing of the country by the newly established Grenada Tourism Authority.

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