Grenada Agriculture Sector could experience point 4% growth at the end of this year after suffering a 14% decline last year, mainly due to drought.
Despite the decline in the sector, Permanent Secretary in the Ministry of Finance Dr. Wayne Sandiford said there was an increase in Nutmeg Production in the first half of 2017, when compared with the same period last year.
He was addressing farmers and fisher folks at another in the series of Budget Consultations held in preparation for presentation of the 2018 package.
“The increase in nutmeg production was about fifty two percent; that’s a large growth in production. Remember it is the first six months of 2017, relative to the first six months of 2016,” the Permanent Secretary said.
“Of course that was the second highest quarter since highest two quarters January to June since hurricane Ivan and we are projecting some growth further in nutmeg production”.
Looking at the economy in general, Dr. Sandiford said there was growth of about 3.7% in 2016, and they estimate that at the end of 2017, the figure could be 4.2%, but will dip to about 3.1% next year.