Diversifying the key tourism and financial services industries, as well as the overall economy, partly through the promotion of innovation in high value-added products, are the government's growth initiatives said Prime Minister Perry Christie May 29.

The economy grew by 1.8 per cent in real terms last year, in line with the 1.7 per cent growth registered in 2011, but below the 2.5 per cent rate projected in the 2012/13 Budget Communication, the Prime Minister told the House of Assembly May 29.