Finance Minister Colm Imbert has just announced that the World Bank has revised its Gross Domestic Product (GDP) growth figure for this country, from -1 percent to +0.7 percent for 2018.
Imbert said this was because the analysts were not using up to date Central Statistical Office data and were relying on informal data such as newspaper articles.
The Minister met with World Bank and IMF officials where this country defended its economic growth following the initial estimation.
Minister Imbert said they presented the World Bank with its CSO figures and was able to convince them to revise the figures.
The 2019 figures have also been adjusted from -1 percent to a projected 0.9 percent.
- by Akash Samaroo