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St Kitts-Nevis Shows Signs Of Economic Recovery

by Mike Godfrey, Tax-News.com, New York

05 August 2013

On July 24, the Executive Board of the International Monetary Fund (IMF) completed the fifth and sixth reviews of St. Kitts and Nevis’s economic performance.

Following the Executive Board’s discussion, Mr. Min Zhu, Deputy Managing Director and Acting Chair, said: “Following a four-year contraction in economic activity, signs of an economic recovery are emerging. Sustained commitment to prudent macroeconomic policies and reforms will be necessary to address remaining risks and vulnerabilities and to support stronger and inclusive growth.

Among other observations he noted that St. Kitts and Nevis needs to boost revenue. He said that "while steps are being taken to improve revenue administration, action will also be needed to broaden the tax base, in particular to streamline tax exemptions."

TAGS: tax | economics | fiscal policy | International Monetary Fund (IMF) | Saint Kitts and Nevis

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