Growth Outlook Deteriorates For 2009

While revising up our 2008 real GDP growth forecast to 5.8% (from 4.9%) on the back of generally upbeat tourist arrival figures and still steady remittance flows, we are now forecasting just 2.9% economic growth in 2009 (from 3.4%). Our revised outlook is based on a sharply deteriorating macroeconomic outlook in the US.

To read the full article, please choose one of the following options: