The Kingdom of the Netherlands-Aruba: 2002 Article IV Consultation-Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion

International Monetary Fund

No 2003/042, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

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 (search for similar items in EconPapers)
Pages: 41
Date: 2003-03-03
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