Prime Minister Gaston Browne says Antigua and Barbuda has reached its strongest debt position in more than a decade, reporting a debt-to-GDP ratio of 61.4 percent — the closest the country has ever come to the Eastern Caribbean Currency Union’s 60 percent benchmark.
Browne delivered the update during the presentation of the 2026 national budget on Thursday, framing the reduction as a major milestone in the government’s long-term fiscal consolidation strategy. He said the country’s debt burden has been halved since 2014, when unbooked obligations pushed the effective ratio to what he described as roughly 120 percent of GDP.
“Reducing our debt from about 120 percent to 61 percent is clear evidence of sound fiscal management,” Browne told Parliament. He argued that the new level places Antigua and Barbuda within striking distance of one of the region’s most important financial stability targets.
A lower debt ratio is expected to strengthen the country’s credit profile, reduce borrowing costs and provide more room for government-led investment. Financial officials say meeting the ECCU benchmark would also enhance investor confidence and improve access to concessional financing.
The debt decline accompanies an overall fiscal surplus of $116.3 million and a primary surplus of $254.9 million, driven by revenue growth from tourism, construction, and higher import volumes. Browne said these results show the government is now “covering its expenses, including interest payments, and still retaining funds for development.”
The 2026 budget, themed “People-Centered Growth and Development,” outlines new spending on education, healthcare, housing and infrastructure, all of which the Prime Minister says will be supported by continued fiscal discipline.
Debate on the budget resumes next week in Parliament.
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