JamaicaObserver.com: "WASHINGTON DC, United States — THE International Monetary Fund (IMF) Monday said that the economy of Antigua and Barbuda is experiencing its worst recession in decades and that gross domestic product (GDP) declined by seven per cent last year.
It said that the decline in GDP followed five years in which the local economy grew by an average six per cent.
The Washington-based financial institution, which last month concluded consultations with the Antigua and Barbuda government, said that following a decline in 2008, inflation has remained in the low single digits despite a 20 per cent increase in fuel prices and higher consumption taxes"
It said that the decline in GDP followed five years in which the local economy grew by an average six per cent.
The Washington-based financial institution, which last month concluded consultations with the Antigua and Barbuda government, said that following a decline in 2008, inflation has remained in the low single digits despite a 20 per cent increase in fuel prices and higher consumption taxes"
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