IMF Staff Country Reports

Kingdom of the Netherlands—Aruba: Staff Report for the 2015 Article IV Consultation Discussions

Publication Date:

May 7, 2015

Electronic Access:

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Summary:

This 2015 Article IV Consultation highlights that Aruba has been recovering from a severe double-dip recession. The economy faced two major shocks over the past five years—the global financial crisis and shutdown of the Valero oil refinery in 2012. After a strong recovery in 2013 with growth reaching 4.75 percent, the pace of activity moderated in 2014. In 2015, growth is projected to rise to 2.25 percent. The tourism sector—the mainstay of the Aruban economy—is envisaged to grow, albeit at a slower rate. Moreover, domestic demand is slated to recover notably amid subsiding policy uncertainty and as key public-private partnership projects move forward.

Series:

Country Report No. 2015/116

Subject:

Banking Commercial banks Economic sectors Environment Financial institutions Government finance statistics Public debt Renewable energy Revenue administration Tourism