The report indicates that the economic growth of Saint Kitts and Nevis in 2013 was primarily driven by the strong performance of the tourism and construction sectors, while the manufacturing and telecommunications sectors remained sluggish. In the first half of 2013, employment increased by 10.2%, wages grew by 5.1%, and inflation remained at a low level of 0.6%. The fiscal situation continued to improve, shifting from a fiscal deficit of 7.6% of GDP in 2010 to a fiscal surplus of 8.6% of GDP in 2013.
The IMF projects that with the continued recovery of the tourism industry and capital injection into the construction sector, the country's economy will grow by 2.5%-3% in 2014, with a medium-term growth target of 3%-3.5% expected to be achieved.
In July 2011, the IMF and Saint Kitts and Nevis reached an $84 million, three-year Stand-By Arrangement (SBA).