Growth outlook •  After contracting in 2007 (-6.6%), our economy is showing some recovery in 2008 (1.2%). Forecasts for 2009 and 2010 are 2.4 percent and 1.9 percent, respectively.
BIS Review 155/2008  1  •  The major drivers of growth are tourism, agriculture, manufacturing, mining and water, while the major drag, particularly for 2010 and 2011, is the reduction in Government expenditure, following the fiscal stimulus expected for 2009. •  These growth rates are too low, compared to our Pacific neighbours and similar small island developing countries.