ECLAC Projects Antigua and Barbuda’s GDP Growth at 9.5% for 2023, Second Only to Guyana

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Antigua and Barbuda is set to maintain its position as the second-fastest-growing economy in the Latin America and the Caribbean region, according to the Economic Commission of Latin America and the Caribbean (ECLAC).

Only Guyana, with its significant oil wealth, outpaces the twin-island nation.

Antigua and Barbuda is projected to achieve a robust GDP growth rate of 9.5% this year, followed by a slight dip to 8.5% in the following year.

However, ECLAC’s recent financial report highlights challenges across the region, such as declining revenues, rising public debt, labor market difficulties, and insufficient climate financing, contributing to an overall regional economic slowdown.

The report also underscores the need for sustained investment to counter climate change’s economic impacts.

 

 

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31 COMMENTS

  1. Oh please! This entity base its information on what if given to them by the government. Meaning the economic dunce, Gaston Browne. If the expected “growth ” is 9.5% and cost of living is 12%, does that mean our growth is actually -2.5%?
    Antigua and Barbuda is dirty,dilapidated; people are suffering, we get water once weekly, cost of living is kept purposely high so they can brag about record taxes and just one big mess.
    People, we have to rid ourselves of this ALP scourge, especially the idiot PM. There are all kinds of skulduggery and corruption in every government office with civil servants mixed up in it all.

    • Well highlighted again @ Watching, all the figures are projections and future calculations; and you are also correct in your -2.5% deficit leaving Antiguans with an ongoing cost of living crisis that can only be halted by a commensurate wage rise of between 15-18% minimum after years and years of ABLP austerity and lockdown measures.

  2. @Watching its real GDP {Not Nominal) , which means inflation adjusted. All similar agencies including IMF, have pointed to high grown for A&B. In addition your data on inflation is way off, based on the last report, the overall inflation this year should be no more than 3 percent (was 2.9 percent for the last 12 months ) see https://antiguanewsroom.com/food-index-rises-by-8-4-in-last-twelve-months-vegetables-surge-10-2-bread-up-9-1/ . You guys really need to stop pushing ialse information

    • @ tenman, using words like “adjusted” and “pointed” isn’t data, factual evidence or peer reviewed corroboration/confirmation.

      So why use vague MISLEADING words to try and strengthen your wayward point of view and confuse the ANR readership.

      As YOU yourself succinctly put it @ tenman:

      “You guys really need to stop pushing falso information”.

      I THINK YOU SHOULD FOLLOW YOUR OWN ADVICE BOSS … DON’T YOU?

      • @Brix, I know you get off on clowning yourself but I get no fun in seeing your dirty draws. . Any statistician will tell you that statistical data needs to be normalized. Clearly your argument for raw data points to the fact that you know nothing about statistics. You have no idea how outliers can skew data. It is known that inflation in A&B is mostly imported. Our main source of imports is the US and you should know that inflation there is now under control, As of June this year it was at a 2 year low. You would note from the same article re inflation, where you keep showing yourself an idiot, that the data for June for A&B show that inflation is under control “The Monthly Consumer Price Index rose 0.2% for the month ending June 2023. “. Brix.. please go and get yourself cleaned

  3. You lie tennman. ECLAC is based on information furnished by the government to include projects,real or imagined and the effects projected on the economy. LikevYIDA and it’s 200 million to be pumped into the economy. We never saw a dime. Minions like YOU need to get you nose out of ALP’s butt. Because ANR publishes something does not make it true. Case in point, the hoopla over robust economy because of the increased tax revenues. Reason.Higher cost of items, not robust economy. Only clowns like you will jump on such a misleading bandwagon because it’s ALP.

    • @watching I get that you need to believe the false info you posted but persons are laughing at your ignorance. Clearly you have no understanding of economics but you make yourself look more foolish by not accepting your weakness. Keep wishing for the sky to fall, and that will be your reality

  4. You lie tennman. ECLAC is based on information furnished by the government to include projects,real or imagined and the effects projected on the economy. Like YIDA and it’s infamous 209 million to be pumped into the economy. We never saw a dime. Minions like YOU need to get you nose out of ALP’s butt. Because ANR publishes something does not make it true. Case in point, the hoopla over robust economy because of the increased tax revenues. Reason.Higher cost of items, not robust economy. Only clowns like you will jump on such a misleading bandwagon because it’s ALP.

  5. @tenman: 9 5% growth in GDP for Antigua and Barbuda is as real as a square circle.
    Perhaps you could indicate what is driving these figures.
    As a businessman, I don’t see it, and I certainly don’t feel it; neither is it reflected in the base economy. When a supernarket sells a single head of iceburg lettuce for $26.00, a stalk of celery for $17.00 and a pound of tomatoes for $12.00, you know that the economy is in dire straits.
    Our local products, except for lobster, conch and a very limited amount of fish have no viable market share regionally or internationally; what then, I ask again, drives this fictional 9.5% growth in GDP? Saying so, don’t mek it so. Get real!

    • @ ..Simon. some examples:take a ride down to what used to be the old halcyon hotel. 2. Take a trip to Barbuda and see what plh is doing there 3. Take a ride down to five island and look at what is happening there 4. Take a ride up at crabs and look at the new power plant 5. Take a ride down at fort James and look at the new reverse osmosis plant. 6. The hotel stay over numbers are publicly available, you will note they have grown more than prior years. 7. Construction is at such a high level for the past atleast 8 years that it’s difficult to find skilled workers.

    • Well pointed out @ Charles W. Simon, however people like tenman will disagree with you just to disagree, because in their eyes our economy is doing just great.

      The best thing to do is to highlight his numerous mistakes (as you’ve just done brilliantly!) and witness and read how he’ll try and correct them.

      Economics isn’t his strong point, and you can tell he’s never run a business in his life … only from he mind and armchair it seems!

    • You think the people of Guyana are now all making millions of dollars because of their growth rate and their newfound wealth? Oil. No and I’m tired to explain economics 101 to you guys. Expansion of an economy is what determines growth. Not how much each person makes. It could be in a sector that benefits only one group. But nevertheless, it contributes to the country’s GDP. The PLH investment benefits thousands of workers in the construction sector. And for it to trickle down to the other sector depends on lots of other factors. But certainly, we see a bigger spread of the investment dollar when it comes to construction. That is why when Stanford closed, we saw that the UPP suddenly realized the impact it had on the government Treasury and the Statutory contributions. The growth in the tourism sector is the main earner and contributor to our GDP. Have you seen any Supermarket closed down lately. Oh NO, because people have money, and they spend it on groceries. So, if you are in the supermarket business you should not have much to complain. Anyway. Go and educate yourself and stop being so ignorant about things you want to criticize.

  6. https://antiguanewsroom.com/eclac-projects-antigua-and-barbudas-gdp-growth-at-9-5-for-2023-second-only-to-guyana/
    The Eastern Caribbean Central Bank has forecast that Antigua and Barbuda will see a 9.4 percent increase in its Gross Domestic Product (GDP) this year.

    In 2022,Antigua and Barbuda is said to have experienced an impressive 8.5 per cent rate of growth.

    So, if you guys do not want to believe in the ECLAC reports, will you believe the ECCB? Or are they also being fed figures and don’t know what they are doing.

    You guys are more than pathetic. I am really getting tired of you guys’ stupidity. A well renowned agency such as ECLAC you guys will try to discredit their reports. Sickening isn’t it. All because of your politics?

    • Comment by @ From The Sideline:

      “A well renowned agency such as ECLAC you guys will try to discredit their report …”

      Ok Mr clever cloggs, answer me this if one defining fact.

      Does ECLAC work with membership GOVERNMENTS like Antigua & Barbuda or not?

      And if so, wouldn’t it make sense for the ABLP to tie themselves to promote HEARSAY, predictions and FAVOURABLE figures that doesn’t match Antiguans REALISM …. come on Sidey, come on!

  7. And now we are waiting on the crazies to refute this report and keep them on crying out that things are so bad and people are suffering. Even though we just had a successful carnival celebration that shows people enjoying themselves going to fetes that costs hundreds of dollars and buying costumes. Surely an indicator that things are going well with people.

    • More nonsensical nonsense by the out of touch @ From The Sideline:

      “And now we are waiting on the crazies to refute this report and keep them on crying out that things are so bad and people are suffering”.

      So Sidey, according to you, nobody is suffering from the high costs of living; poor wages; delayed wages and overtime, pensions that may or may not be paid; sky rocketing food prices; poor housing and an ABLP government that doesn’t have a clue about the redistributing wealth?

      As I’ve said in previous posts about you, that your conscience is severely seared.

      Your mindset comes across as, “I’m alright Jack” and I don’t give a damn about the rest of the country that’s suffering.

      Please read again, if you haven’t already. 1 Timothy 4:2

      • Brix I’m a Rotarian for over 35 years. Our motto is:
        Service Above Self
        The 1989 Council on Legislation established Service Above Self as the principal motto of Rotary because it best conveys the philosophy of unselfish volunteer service.
        With that said I can assure you that I have done my fair share and I’m still doing whatever I can to serve the poor and needy in our society. We do not brag about the things we do. We do not go around and make those programs public. We have our fundraising and especially when the country is in need after a hurricane, we can call on our brothers in other countries to send us help. I have seen poverty that made me cry. But the reality is, you can never alleviate all poverty. Not even in your own country. Even if you become a communist state, you will have the poor among you. Remember Jesus told us the poor you will always have with you. And he commanded us to take care of them.
        My wife on the other hand is running with the Catholic program “Food for the Poor”. And they bring in so many containers with foodstuff ‘Duty Free, Tax Free” Everything Free and share with other organizations as well. And weekly food packages go to the poor. You have so many other service clubs doing the same thing. I really do not understand the simplicity of your thinking. That when a country claims to be doing well, that there aren’t any poor people. Even the wealthiest country, the USA, has its poor. And they are very visible in some cities. What is your point Brix, the fact remains, Antigua and Barbuda’s economy is predicted to grow by 9.5% this year. And we are doing our best to take care of our poor. And let me tell you one way to take people out of poverty. EDUCATION. Educate the people. That is why Gaston Browne fought for us to have a university here. And now that we do, many more people will be able to empower themselves. Knowledge is power. UWI Five Island in it short three years have already reach 1000 students. Remarkable for a newly established campus. And the brilliance of our Prime Minister was to pass a new tax law for the financial institutions that make so much money, to pay for the university’s upkeep. So, he doesn’t have to worry about paying for it. And not to mention the almost $30million he gives away through the PM Scholarship. That is free money. They do not need to pay it back. Not even America does that. I wish one day we can have more intelligent discussions. But until then I will take time to educate you. Although you are tiring me down. But I pray to God for patience with you.

        On another note. In my opinion, one of the roots of poverty is teenage pregnancy. Too many young mothers with children and they cannot take care of them. Fathers are M.I.A and the poverty circle continues.

    • And you still haven’t answer the question. Do you believe the ECCB is also making false predictions? Cause they have the same prediction of 9.4% for Antigua and Barbuda this year. And in a recent post I already brought that to your attention. The governor of the Central Bank was here, and he made several rounds, and he was on ABS taking questions from the public. I asked him a question relating to whether or not we will one day have a foreign currency control again and have to apply to send out USD. Cause Antiguans are practically the only Caricom citizens that spend USD unchecked. That was not so in the 70s, 80s and early 90s. All USD purchases needed to be approved by the finance minister. And he said “No”. Very reassuring, but I’m skeptical about that. So Brix, stop your clowning around and answer me.

  8. I see the GASTONITES are out of their slumbers.ECLAC,HAS NO CREDIBILITY. They would used all the figures and information given to them by the Administration.They do not come into Antigua and sit with the technicians in the various Ministries.What did the figures from the IMF say? At least they come into Antigua and sit with the technicians and others and go through the details of the numbers.Then they go back and analyze the informations gathered and come to a conclusion.They then send their report to the Administration for public consumption.Howerver,we the people only see the reports that speaks well of the finances of the Nation.ECLAC,GO AND JUMP INTO THE ATLANTIC OCEAN AND SWIM TO EUROPE.

    • Here here @ Black Man πŸ‘πŸΎ, you’ve highlighted perfectly the difference between guesswork (by the ECLAC) and working with ACTUAL figures (the IMF).

      People like @ Sideline and tenman continually try to twist and turn their narratives into the ABLP’S favour, but UNFORTUNATELY for them there’s people like us who will scrutinise and pull apart their nonsensical partisan views each and every time.

  9. @BLACKMAN, thank you. Been trying to convey to the delusional @tenman that ECLAC’s figures are unreliable. Tenman dares to compare ECLAC with the IMF,which is indicative of his determination to push ALP over country. The RO at Fort James is a disaster; the huffed UWI campus is not for poor people and the dunce keeps pumping millions into it; tenman you are delusional. The good businessman spoke of a head of lettuce costing $26 and you’re spurting some lie about cost of living being 2%.
    People like you and Sideline are counterproductive to this nation because of you obsession to push the abject failures of this dunce, incompetent, corrupt Gaston Browne led administration.

    • @Watching did you see IMF figure for last year? Its 7.8 percent (google IMF Staff Concludes Visit to Antigua and Barbuda June 23, 2023). This means {like the projection this year}we were the highest performing economy in the OECS and as far as CARICOM, second only to Guyana. With the knowledge that IMF says we grew by almost 8 percent {Real hence inflation adjusted) in 2022, why would you be so dumb as to disbelieve the figure almost 10 percent for 2023? Let me suggest you google 1. Real GDP 2. Nominal GDP. Honestly you guys need to go back to school and get some economics lessons

      • Their IQ would not allow them to understand it. I have tried many times to educate them. But it seems that they want to remain ignorant willfully.

  10. @Black ECLAC’s figures are obtained from central bank? Central bank techs do not meeting our technicians? Rasano Davis crump and the other techs at ministry of finance to your mind would risk their credibility by making up figures? Anyway IMF put REAL growth {inflation adjusted for A&B ) of 7.8 percent for 2022 {see IMF Staff Concludes Visit to Antigua and Barbuda June 23, 2023). Their projection for this year is 5.5 (real ) percent. No doubt as usual their figure will be adjusted upwards by next visit

  11. Why does Sidey and Tenman keep quoting articles from ANR as if they’re some kind of authority on any subject? The point here is, ECLAC figures are not reliable. ANR printed some garbage about “booming econony,” because the taxes are higher based on higher prices on items. Just simple arithmetic really.
    So let’s not get,”sidelined and tenmaned,” by referencing all kinds of delusional numbers.
    Antigua and Barbuda is in the worst condition it has ever been inspite of the billions collected by a corrupt,incompetent government. When a man who had nothing can boast of being worth 30 million (or is it 300? Can’t keep up with the liard) in 9 years, is there any doubt to any rational thinking being, where the wealth came from?

    • So now you are declaring that ANR is publishing untrue publications from the Central Bank. Why not visit the Central Bank website yourself.

  12. We live in a time where intelligent people are being silenced so that stupid people won’t be offended

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