A&B among fastest growing economies in the Caribbean and Latin America

The Antiguan and Barbudan economy is expected to see a 5.5% growth this year but the International Monetary Fund says there is expected to be a slight decline to 5.4% next year.

The IMF made that prediction in its latest World Economic Outlook, released by the IMF on Tuesday.

Based on other forecasts, the Antiguan and Barbudan economy will grow by much more but the IMF is conservative in its forecasts.

The ECCB for instance projected 9.9 percent growth for Antigua and Barbuda.

The IMF said Guyana, the oil-rich country is expected to record the highest growth among Caribbean Community (CARICOM) countries. The report said that Haiti will record under one percent growth in 2023.

Guyana’s economy will grow 37.2 percent this year according to the IMF, increasing to 45.3 percent next year, it said.

The predicted economic growth for St Vincent and the Grenadines is six percent this year.

Barbados and Dominica will grow by 4.9 percent according to the IMF but is expected to drop to 4.7 and 3.9 percent in 2024.

The CIP booming St Kitts-Nevis economy is predicted to grow by 4.5 percent this year and drop to 3.8 percent the following year.

Other countries like Belize, Grenada, St Lucia, and Trinidad and Tobago will all register a growth according to the IMF but only about 3%.