The Kingdom of the Netherlands-Aruba: 2002 Article IV Consultation-Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion
Volume/Issue:
Volume 2003
Issue 042
Publication date: March 2003
ISBN: 9781451800043
$20.00
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Topics covered in this book
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Business and Economics , Medical , Exports and Imports , Economics- Macroeconomics , Public Finance , Taxation - General , Health Policy , 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
Summary
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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