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St. Lucia - Performance and prospects of the economy, Volume 1
Country:St. Lucia; Date Stored:2003/08/01
Document Date:1985/10/31Document Type:Publication
SubTopics:Environmental Economics & Policies; Economic Theory & Research; Banks & Banking Reform; Public Sector Economics; Financial IntermediationISBN:ISBN 0-8213-0624-3
Language:EnglishMajor Sector:(Historic)Economic Policy
Region:Latin America & CaribbeanReport Number:PUB5603
Sub Sectors:(Historic)Macro/non-tradeCollection Title:A World Bank country study
Volume No:1  

Summary: Economic performance in St. Lucia between 1977 and 1984 and the government's strategy for expanding the productive base of the economy and improving the welfare of population centers in the agriculture, industry and tourism sectors are discussed. Recent performance in these sectors is examined and areas are identified where policy action is needed. Special attention is given to the country's objective of increasing the level of employment in the economy and a detailed look is taken at the state of the country's social and economic infrastructure. Problems and plans related to public investment activities are analyzed in the context of continued improvement and expansion of economic and social facilities, and the financial ramifications of those plans are described. The report suggests the following actions: increase domestic savings and policies to encourage flow of financial resources to productive sectors; place restraints on wages and salaries; address unemployment; intensify import substitution policy, particularly in foods; practice caution in borrowing on hard terms; and maintain the present degree of concessionality for donors.

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