ECLAC confirms Antigua and Barbuda’s economic growth projections

25

Latin America and the Caribbean: Growth Projections for 2023-2024

Region Faces Mixed Economic Outlook with Varied Growth Rates

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.

Regional Overview:

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.

Sub-regional Breakdown:

Latin America: 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.

South America: 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.

Central America: 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.

Central America and Mexico: 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.

The Caribbean: 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.

Country-Specific Highlights:

Several Caribbean nations exhibit distinctive growth patterns:

  • Antigua and Barbuda: Expected to grow at 8.5% in 2023 and 8.2% in 2024, the nation’s tourism-dependent economy demonstrates resilience and adaptability.
  • Guyana: The standout performer, Guyana, is projected to experience an exceptional growth rate of 39.2% in 2023, followed by a substantial but lower 28.9% in 2024. The country’s burgeoning oil and gas sector underpins this remarkable economic surge.
  • Jamaica: Jamaica is forecasted to have a growth rate of 2.1% in 2023 and a marginal decline to 1.9% in 2024, reflecting a steady but measured economic trajectory.
  • Trinidad and Tobago: This oil-rich nation anticipates a growth rate of 2.7% in 2023 and a slight decrease to 2.4% in 2024, as it navigates the challenges of global energy markets.

As Latin America and the Caribbean prepare for the years ahead, policymakers and businesses alike will need to navigate a diverse economic landscape, addressing both shared regional challenges and unique country-specific dynamics to foster sustainable growth.

Advertise with the mоѕt vіѕіtеd nеwѕ ѕіtе іn Antigua!
We offer fully customizable and flexible digital marketing packages.
Contact us at [email protected]

25 COMMENTS

  1. Well it doesn’t matter what ECLAC says or what ECCB, CDB, IMF or World Bank says, the UPP and their cronies will continue saying that the country’s economy is doing very bad. Just wait for Brix to comment on this.

  2. I’m just here to count the many ‘HATERS’ generated from the 2024 economic growth projections. As bad as my little Paradise may be…I don’t see Antiguans & Barbudans migrating to North America for a better life. So we need to put up or shut up.

    • How are they going to get to North America and Europe? They need a visa and a plane ticket. Gone are the days when it was easy to get out of Antigua.
      So they just stay in Antigua and rob people. Even if they were to make it out, they wont find a proper job as an illegal immigrant and have to constantly look over their shoulders for immigration. I guess they can join the Queue at the Mexican border.

  3. @ From The Sideline
    GDP is one measurement of the matrix that determines how the economy performs.
    As a faux Executive of a Major Financial company you should know this.
    Lester Bird and Ron Saunders has been holding out the GDP flag for over 40 years and by itself it’s a false flag.
    Ask yourself whose pocket is the GDP going into.
    For Antigua and Barbuda economy a
    a growing GDP means more FDI where Antiguans and Barbudans are treated as a cheap source of labour.
    Want to measure how well the country is doing?
    What percentage of males leaves school semi-illiterate?

  4. Here we go again with more PROJECTIONS of economic growth my fellow Antiguans.

    As I’ve highlighted in the past, predictions and projections are not FACTS – far from it!

    Where are those lovers of fortune-telling @ tenman and From The Sideline … the two ah dem enjoy govermmental guesswork 😁

  5. What I’ve come to realize is that even if Jesus were to appear saying that the country’s economy is yielding a higher rate of growth, based on the budgetary measures in place, the naysayers would question Jesus’ assessment. Some people just cannot give credit where it is due. Sad…

    • … and if Jesus was to appear and witness the many Antiguans suffering, and the current hungry and destitute scraping an existence today @ Dave Ray, wouldn’t you think that Jesus would immediately ‘turn-over’ the money tables of the greedy ABLP self-enrichers?

      YOU GUYS HEARTS ARE SO SEARED, YOU JUST CAN’T SEE IT, SAD, SAD, SAD… 😔

      • Chicken Little you are living in a different reality. In your eyes the sky is falling. Have you seen the spending people did over the Christmas week. It was crazy. And have you seen how many ham and turkey ABLP was sharing. Every Antiguan and Barbudan could have gotten one. And then have you been to any of the fetes these young folks been to. They were all sold out. And tickets ranges from $200.00 to $500.00 VIP.
        But you keep crying about the sky falling down. One day when you wake up you will smell the coffee

        • @ From The Sideline, why don’t you take @ tenman’s lead and realise forecasting is what it is … forecasting!

          At least Tenman now understands that forecasts, predictions and fortune-telling isn’t real facts.

          TEK AH LEAF OUT AH HE BOOK NAH? 😁

  6. @ Dave Ray, please try not to play any Biblical games or quotations into this forum with Brixtonian. Having read the Bible from cover to cover (twice, may I add), you’ll be on a HIDING to NOTHING. Simple!

    I don’t just quote the POPULAR Scriptures like the many, I also quote the UNKNOWN Scriptures like the many theologians and the educated few … 🙏🏽

  7. @ Melvin Bridgewater
    Nepo babies only see the world through their lens. It’s paradise fire you but hell for others
    GDP is very compelling, particularly if you’re a Nepo baby many of whom are wildly uninformed.
    A prominent Antiguan attorney recently stated in his arguments before the Privy Council that Antigua and Barbuda population is 80,000

    There is such a thing as the Dyaspora population of over 200,000, many of whom jumped through the window.

    Antiguans and Barbudans may not be making their way through the Doreen Gap. We train nurses in Antigua who get HB-1 to go live and work in Minnesota as well as Ottawa and we import Cuban nurses to replace them.

    This is a government that provides no performance metrics no quantitative analysis. Everything is GDP

  8. Ah, @ Brixtonian, hats off to you. These Labourites and Gastonites are so party conscious they will never admit that Gaston Browne is an economic dunce presenting misleading information on ALL his budget speeches. Did not Covid-19 in 2020 expose his lies?
    ECLAC is not reliable. Unlike the IMF they are not on the ground doing there own calculations.
    My God! What Antigua and Barbuda do they live in?
    St. Kitts and Nevis has an economy half the size of Antigua’s. They are not bragging about fastest growing economy, yet look at what they are able to do FOR their people. The infamous ECLAC has St.Kitts and Nevis at 3.6% less than half of Antigua’s 8.2 %. Come on Labourites and Gastonites, how the hell can a government with 3.6% growth do so much for their people and the one with 8.2% do absolutely nothing but increase taxes on the poor?
    This alone is proof positive that our economy is not doing as well as the idiot DAWG pretends.

    • @ Watching:

      My brother you are wasting your breath trying to convince the masses that Antigua is almost at the bottom of the barrel economically, for as long as Gaston says it, they believe it and that settles it.
      We live here and we suffer in peace whilst the 1% live in luxury off of our poor people’s 2%. Oh Lord Jesus How Long? Ere we shout the glad song, ‘Christ returneth, hallelujah, hallelujah AMEN- then justice will be served as the Lord allows the wicked to flourish only to be destroyed. The day is coming like a thief in the night.

  9. From where does ECLAC get the figures that they tout about Antigua and Barbuda?
    Did someone say from the Gaston Browne Government?
    They just publish what they are given?
    Let’s challenge ECLAC to come on the ground like the IMF and proof those figures that they keep spouting every year.
    BTW, these projections. Sounds like winning the lottery by just wishing it and saying so.

  10. All you people who are applauding, don’t you know that these are just projections and may turn out to be very far from reality. I will applaud when I see the real growth in People’s lives. Full employment for the youths, reduction in crime, vast improvement in the infrastructure and health facilities. Until then, I don’t care what ECLAC says, these are just some future numbers. As we know from statistics, your outcome will always depend on your input.
    Gaston is always thumping his chess about high GDP. What resources does Antigua have? Tourism? Other Caribbean countries have for more tourists than Antigua, Jamaica, Barbados and Bahamas, to name a few. Trinidad has oil and gas. Why is Antigua predicted to do better than them?

    • So why not look at the figure over the last 10 years for ease of referrence. If you do not want to work with projection. By the way these projections are based on the latest economic figures.
      Anyway it doesn’t matter, you guys will willingly remain dunce.

      • @ SIDELINE!!!!YOU A THE DUNCE YOU RASS!!!, I RATHER LIVE IN ST KITTS THAN THIS SHIT HOLE!!. YOU ALWAYS A CHAT YOU RASS !!!! IF ST KITTS A DO SO WELL WITH THAT LITTEL WE SEE THEN THAT PAPER, THEN THAT PROVES THAT THIS GOVERNMENT NEED TO ALL GO TO JAIL FOR WASTAGE 0R TIEFING OF PUBLIC FUNDS DUNCE !!! ANTIGUA NASTY NO FUCK FOR SUCH FIGURES TO BE BOSTING ABOUT AND ALL YOU DO A KISS ASS!!!, HAHAHA…. DAMN YOU ARE THE REAL DUNCE!!!! CANT WAIT FOR ST KITTS TO TAKE OUR COIUNTRY BY FORCE!!! I RATHER HAVE THEIR GOVENMENT THAN THESE DUNCE PARTIES CALL ABLP & UPP BUT ESPICALLY ABLP DUNCE GREEDY RASS!!! DOWN WITH ABLP FOREVER!!!

      • Don’t care what you say. There is no visible progress in Antigua. Just Gaston repeating the same old crap about ECLAC and GDP. I doubt he really understands these terms. They just let him sound educated. If Antigua is doing so well, why does the country’s debt keep increasing and the government can’t service them? Gaston and his supporters are failures. And Antigua is bankrupt.

  11. ADD ECLAC TO THE LIST.
    A recommendation is pending on ECCB and what it does to curb INFLATION.

  12. impressive growth by Antigua only Guyana which sits in a huge lake of oil and gas has higher rates. Where is Antigua’s growth coming from? It has zero natural resources and the tourism business hasn’t increased by much if at all since 2019. So, what is driving 8% growth in tiny tiny Antigua?

  13. All this damn talk about economic powerhouse, but where is the damn money, where has it been used, to plant inedible palm 🌴 trees?

    An independent Audit needs to be done on this damn government, the people needs to demand it..

    I guarantee you that the books are cooked.. The people needs to see their money in action Gatson..

    Clean up the damn crime rate, and use the peoples money wisely.

Comments are closed.