From recovery to expansion: St. Lucia budget address 2006-2007

In 2002, real GDP grew, albeit marginally, by 0.5 percent as the economy emerged out of the deep recession. Since then, the growth rate has picked up strongly, moving from 3.1 percent in 2003 to 4.0 percent in 2004 and now, to 5.4 percent in 2005. This momentum is expected to continue, and, barring any natural disasters, a growth of 6.6 percent is projected in 2006.