{"id":192887,"date":"2023-12-27T09:37:31","date_gmt":"2023-12-27T13:37:31","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=192887"},"modified":"2023-12-27T09:37:31","modified_gmt":"2023-12-27T13:37:31","slug":"eclac-confirms-antigua-and-barbudas-economic-growth-projections","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/eclac-confirms-antigua-and-barbudas-economic-growth-projections\/","title":{"rendered":"ECLAC confirms Antigua and Barbuda’s economic growth projections"},"content":{"rendered":"
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Latin America and the Caribbean: Growth Projections for 2023-2024<\/strong><\/p>

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Region Faces Mixed Economic Outlook with Varied Growth Rates<\/em><\/p>\n

In the ever-evolving landscape of global economies, Latin America and the Caribbean are poised for a mix of growth and challenges in the coming years. As projections for 2023-2024 roll in, the region as a whole is expected to experience a moderate slowdown, with various sub-regions and individual countries displaying diverse economic trajectories.<\/p>

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Regional Overview:<\/strong><\/p>

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The overall Gross Domestic Product (GDP) growth for Latin America and the Caribbean is estimated to be 2.2% in 2023, with a slight dip to 1.9% in 2024. This moderate deceleration reflects a complex interplay of factors, including global economic conditions, regional policies, and the ongoing challenges posed by the COVID-19 pandemic.<\/p>\n

Sub-regional Breakdown:<\/strong><\/p>

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Latin America<\/em>: The Latin American sub-region is anticipated to register a GDP growth of 2.1% in 2023, dipping to 1.8% in 2024. Countries in this category are grappling with both internal and external factors that contribute to the nuanced economic outlook.<\/p>\n

South America<\/em>: South America is expected to see a slower growth rate, with projections at 1.5% in 2023 and a marginal decline to 1.4% in 2024. Economic conditions in some countries, coupled with external trade dynamics, are influencing these modest growth rates.<\/p>

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Central America<\/em>: In contrast, Central America is poised for robust economic expansion, with a growth rate of 3.4% in 2023 and a marginal decrease to 3.2% in 2024. This sub-region benefits from increased regional cooperation and strategic economic policies.<\/p>

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Central America and Mexico<\/em>: While Central America and Mexico are set to experience a growth rate of 3.5% in 2023, a slight dip is projected for 2024, with a rate of 2.7%. Mexico’s economic policies and trade relationships continue to play a pivotal role in shaping this outlook.<\/p>\n

The Caribbean<\/em>: The Caribbean stands out with a notably higher growth rate, projected at 9.4% in 2023 and 8.3% in 2024. However, when excluding Guyana, the growth rate decreases to 3.4% in 2023 and 2.6% in 2024.<\/p>\n

Country-Specific Highlights:<\/strong><\/p>\n

Several Caribbean nations exhibit distinctive growth patterns:<\/p>\n