Review and Outlook for the U
US Virgin Islands Bureau of Economic Research U.S. Virgin Islands Economic Review and Industry Outlook Bureau of Economic Research (BER) December 2006 Prepared by Lauritz Mills, Director, Bureau of Economic Research (BER) Introduction The economy continued to deliver good results in most sectors in the final quarter, reaffirming that 2006 will emerge as one of the strongest in recent years and should match last year’s growth of about 3.3 per- cent . Output and employment levels have improved, the unemployment rate has fallen to the lowest levels of the past six years, inflation rates remain under control despite a rapid run-up in oil prices, and government General Fund balance is experiencing a surplus. The good standing of the economy is the result of several factors. Improved macro- economic management and revenue en- hancement measures which led to a reduc- tion in government expenditure, diversity in the economic base, and higher stan- dards of performance and efficiency have placed the economy on a positive footing. …
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