ECCB projects back-to-back years of economic growth for Saint Lucia
Thursday, October 3, 2024
by Office of the Prime Minister
SAINT LUCIA'S ECONOMY IS ON COURSE TO EXPAND BY 7% IN 2024.
Data has confirmed that Saint Lucia's economy continues to expand and is performing better than before the COVID-19 pandemic in 2020. Beyond the data, the social and economic policies taken by the government are improving lives and creating opportunities for Saint Lucians.
 
For example:
  • First-quarter unemployment is at a record low of 11.4%
  • Real GDP growth is projected to average 7% in 2024
  • Government and NIC pensions have increased
  • The firs-ever minimum liveable wage is in effect
  • The Youth Economy Agency has disbursed over $1.5 million in grants
  • The MSME Loan-Grant Facility has awarded over $1.7 million in funding to startups and small businesses
  • More than $1.8 billion in mega investment projects are under construction in Saint Lucia
  • Government tax amnesties are keeping money in the pockets of individuals and businesses
  • Record-breaking tourism arrivals year to date in 2024

​Saint Lucia's economy is on course to expand by 7 percent in 2024.