St. Kitts & Nevis Reported Four Percent Economic Growth in 2004

St. Kitts & Nevis recorded a real economic growth rate of four percent in 2004 and Prime Minister and Minister of Finance, Denzil Douglas said recently all economic indicators suggest that the rate of economic expansion will continue to improve in 2005.

"This improved economic performance represents a substantial recovery from the relatively sluggish growth in economic activity experienced over the period 1999-2003 when our economy was tossed around by frequent exogenous shocks including natural disasters, international war and terrorism and a very volatile global economic climate," Prime Minister Douglas noted.

He added that the current economic rebound, which is still constrained somewhat by soaring oil prices and continued uncertainties in global economic performance, stems primarily from very substantial increases in tourist arrivals and a major upsurge in construction activity.