Grenada Will Enter Historic Contraction In 2020 Before Growth Returns In 2021

• The Grenadian economy will severely contract in the coming quarters as the Covid-19 pandemic undermines tourism, commercial activity, and investment.
• In the longer term, the country's fiscal space, investment pipeline, and competitive services sector will support an economic rebound beginning in 2021.
• Fitch Solutions have revised their 2020 and 2021 real GDP growth forecast to -13.7% y-o-y and 5.2%, from -4.7% and 2.6% previously, as the pandemic depresses external demand for overseas travel in the near term. In 2021, Fitch expects base effects, and stronger investment will support headline growth.

(Source: Fitch Solutions)