Prime Minister Gaston Browne has rejected the International Monetary Fund’s (IMF) forecast of 3.5% growth for Antigua and Barbuda in 2025, saying he “does not subscribe” to what he views as an overly “conservative” outlook.
Reflecting on his government’s decade-long record of economic growth, Mr. Browne said, “After 10 years governing the country and as we celebrate our 43rd anniversary of Independence, we have done reasonably well, even in the economy.
:In terms of rates of growth, we have consistently been one of the fastest-growing economies within the Caribbean region, and the size of the economy by the end of this year would have virtually doubled within the 10-year period.”
The IMF projects Antigua and Barbuda’s economy to grow by 5.8% in 2024, making it the second fastest-growing economy in the Western Hemisphere after Guyana.
However, the IMF’s 2025 forecast estimates a slowdown to 3.5%, which would place Antigua and Barbuda behind Eastern Caribbean states such as Grenada, Dominica, St Vincent & The Grenadines, and St Kitts-Nevis. Mr. Browne was quick to push back on this projection, saying, “The IMF… they’re very conservative… admittedly, they suggested maybe about 3.5% or 4% next year; you know, we don’t subscribe to that.”
Confident in the country’s growth prospects, Mr. Browne highlighted several high-value investment projects, including the $400 million Nikki Beach project launched by Ambassador Calvin Ayre, which is set to bring significant returns through real estate sales.
Other projects set to bolster Antigua’s economy include the Dubai Group’s Half Moon Bay development, scheduled to break ground early next year, and a new Marriott luxury property at Yepton Estate.
Describing Antigua and Barbuda’s shift toward high-end tourism investments, the prime minister pointed out that these developments promise greater tax revenues and better wages for local workers.
He contrasted these benefits with the all-inclusive model, which he said can lead to issues with financial transparency.
Prime Minister Browne remains optimistic that Antigua and Barbuda will continue to lead in economic recovery, buoyed by strategic, high-quality investments that he believes will help sustain strong growth well beyond the IMF’s conservative outlook for 2025.
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PM Browne a leader who can be proud. Fact is not only will A&B beat the IMF 2025 projection, we have beat their 2024 projections (and all others before). The IMF now projects 6 percent for 2024 but our Financial Secretary with updated data, states it will be between 7 and and 8 percent (Todays Point FM). Clearly we have a captain who not only can start the plane, he can also fly it.
I will back Gaston or any Caribbean government whom this Rothschild family and their IMF bank think should be infantillised, they think we should be under white supervision, and IMF don’t recognize wealth from selling coals or roast corn or sugar cake, only if foreign white monopoly capital wealth extraction take place they count that.
Remember folks, ignore the noises and bluster from Prime Minister Browne and his blind followers (like Tenman – he love ah prediction so, instead of factual evidence), these guys love their own predictions.
However, Antiguans WE must always witness with OUR own eyes whether or not the country’s economy is doing better.
If I could debate with these two, I’d wipe the floor with these predictors of falsehoods …
What Nonsense Lunny Glaston talking about.which 10 years of economic growth he referring to ? He talking about the economic growth of He, Maria, Algin, I F [ Antigua [ Inc and all the Acholytes.
Glaston what about IYDA and the U S $ 2 Billion. You include that Goast Investment then. Thus is not Seiss American Bank economic of the IRA doubles funding. Thus is International Financial Institution that is above Politics ..
Antigua and Barbuda lacks fiscal discipline. We spend more than we earn and we fund that spending with more spending. Monitory policy goes hand in hand with fiscal policy. We need to restore confidence in our fiscal policy, something that has eluded us for a long time. We are creating a nightmare and a burden of debts that will be an albatross around the necks of future generations.
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