St Lucia will see 9.6% economic growth in 2022: World Bank

Castries, St Lucia: As per the recently released predictions of the World Bank, St Lucia will be witnessing an accumulation of a 9.6% economic growth rate. This growth rate projection is highest in the CARICOM states, according to the World Bank’s Global Economic Prospects.

The report statistics notes that the average economic growth in the broader Caribbean region is estimated at 7.3% in the ongoing year and 5.9% in 2023.

The economy of St Lucia fell by 26% in 2021, when the deadliest COVID-19 pandemic emerged in the Caribbean island country, which was the largest financial drop in the Eastern Caribbean Currency Union (ECCU).

his significant economic growth projection indeed will assist the efforts of Prime Minister Philip J Pierre led-administration in reviving the island country’s economy and getting back it on track, which was wrecked by the ongoing COVID-19 outbreak.

On the other end, Guyana is the only Caribbean nation set to broadcast double-digit growth figures that is – (49.7%) for the ongoing year. Meanwhile, the Caribbean is the region that saw a massive, devastating impact of the novel coronavirus pandemic.

At present, the fifth wave of the COVID-19 virus is flowing in St Lucia. According to the COVID update report of the island’s Health Ministry, a total of 21,768 confirmed virus cases have been reported to date. In total, 342 COVID-19 patients in St Lucia scummed to the virus since the beginning of the pandemic.

In terms of the vaccination statistics, as of February 7, 2022, there are a total of 57,233 persons (around31.2% population) who have taken their first jabs of the COVID-19 vaccines and are now partially inoculated. The statistics show, so far, a total of 51,333 people in St Lucia (around 28% population) have taken their required number of jabs and therefore are now fully immunised.