St. Kitts and Nevis: 2024 Article IV Consultation-Press Release and Staff Report

Delays in investment projects lowered growth to 3.4 percent in 2023 despite a solid rebound in tourism. Revenues from the citizenship by investment (CBI) program were 22 percent of GDP in 2023 which resulted in a small fiscal surplus and debt falling to 54 percent of GDP. Two large energy projects are at a planning stage but, if fully implemented, would shift the country’s energy mix entirely to renewables and significantly reduce the impact of changes in global commodity prices.