A United Nations Economic Commission for Latin America and the Caribbean ECLAC report has placed Antigua and Barbuda’s economy as the third fastest-growing economy in Latin America and the Caribbean in 2023.
Oil-rich Guyana is projected to see the highest level of growth with 30 percent next year, while St Kitts and Nevis is set to see the second-fastest growth rate of 10.4 percent.
ECLAC forecasts growth in real Gross Domestic Product of 7.6 percent for the twin-island state in 2023, significantly higher than the Caribbean’s average growth of 3.3 percent, excluding Guyana.
Meanwhile, ECLAC says Antigua and Barbuda’s economy is estimated to have grown by 8.5 percent in 2022.
This has been the 6th highest rate of estimated growth across Latin America and the Caribbean for 2022.