St. Kitts and Nevis

St. Kitts and Nevis

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Economic activity continued to shrink in St. Kitts and Nevis in 2012 on account of a sharp slowdown in the construction sector. Despite the sluggish global environment, the authorities have continued to successfully implement their economic program. Inflation has stabilized. The external position is relatively stable since the improved trade balance. Bank credit is restrained by the sluggish economy and rising nonperforming loans (NPLs). Despite the continued economic contraction, all of the fiscal targets are met owing to strong non-tax and income tax receipts.Fourth Review Under the Stand-By Arrangement, Financing Assurances Review and Request for Waivers of ... fiscal targets End-June 2012 Improve medium-term orientation of the budget completed Civil service reform End-June 2012 ... social safety net reform strategy to Cabinet Develop method for the proxy means testing for the eligibiity criteria of the planned consolidated cash transfer program ll.

Title:St. Kitts and Nevis
Author: International Monetary Fund. Western Hemisphere Dept.
Publisher:International Monetary Fund - 2013-02-21

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