Budget Alert: VOLUME 4: Fiscal Policy Issues in Grenada 2024
Budget Alert Volume 4
Budget Alert is a series of Articles on economic and fiscal issues in Grenada, emanating from the national budgets. It is a reliable and credible source of information on the economic issues arising from Grenada's national budgets.
In Grenada, and in the other countries of the Eastern Caribbean Currency Union (ECCU), fiscal policy is the main instrument for managing the economy. Fiscal policy is generally pursued through the implementation of the annual national budget.
The overall objective of fiscal policy is to improve the economic status and social wellbeing of the population. In 2024, the National Housing and Population Census (2021) was published with comprehensive information on the structure of the population and social indicators. The census complimented the existing Grenada Survey of Living Conditions (World Bank 2021), and the labour-force surveys of June, September, and December 2023.
Budget Alert Volume 4 comprises articles that assessed the socio-economic conditions of the population, particularly related to unemployment, the features of the population and their access to household amenities.
The analysis of labour force surveys for the quarters ending June, September, and December 2024 showed a continued decline in unemployment, driven largely by improvements in youth employment.
The results of the 2021 Population and Housing Census revealed modest population growth over the decade and a largely unchanged balance between males and females. The census showed improvements in educational attainment, earnings, and access to public utilities, reflecting positive developments in living standards. However, the data also points to the existence of vulnerable segments of the population characterized by lower incomes and inadequate household amenities, suggesting the need for targeted social and economic policies.
These findings are important in the context of the Government's stated goal of "A Sustainable, Equitable and Prosperous Grenada for All".
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