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The Kingdom of the Netherlands-Aruba: 2002 Article IV Consultation-Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2003: Issue 042
Language:
English
Publication Date:
03 Mar 2003
DOI:
https://doi.org/10.5089/9781451800043.002
ISBN:
9781451800043
ISSN:
1934-7685
Pages:
41
Keywords:
ISCR; CR; fiscal policy plan; draft government budget; staff projection; monetary policy; plan; fund staff estimate; tax boosts revenue; Fiscal stance; Imports; Current spending; Caribbean; Middle East
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This 2002 Article IV Consultation for the Kingdom of the Netherlands—Aruba highlights that after growing at more than 4 percent per year in 1996–2000, the Aruba economy experienced two years of retrenchment, with GDP falling an estimated 1.2 percent in 2001 and 3.8 percent in 2002. This downturn reflected a lull in investment activity, but especially weak tourism following the United States recession and the terrorist attacks of September 11, 2001. In 2003, sharply higher private and public investment and a modest revival in tourism should boost economic growth to more than 4 percent.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund