Antigua and Barbuda’s Economy achieves 8.1 percent growth in 2023
In a recent announcement, Prime Minister Gaston Browne, revealed that despite the many challenges that the country faced in 2023, it recorded an impressive growth rate of 8.1 percent.
This announcement was made during the presentation of the 2024 Budget to the House of Representatives.
The Prime Minister attributed this high growth rate to the government’s decision to reopen the ports and the economy on June 1, 2020, after the COVID-19 pandemic.
He explained that this single, farsighted decision opened the country to a multitude of privately owned aircraft and wealthy visitors, which helped sustain the economy. Additionally, allowing the opening of bars, restaurants, and other businesses in a careful manner permitted many people to go back to work.
The Prime Minister added that this action by the government gave the nation a head start in recovering the economy and restoring it to the path of growth that was enjoyed prior to 2020.
He further stated that the country experienced growth of 8.2 per cent in 2021, 9.5 per cent in 2022, and spectacular growth of 8.1 per cent in 2023, which was unmatched by any country, except Guyana with its recent exploitation of oil and gas.
The Prime Minister expressed his pride in providing courageous and visionary leadership, which benefited the country and its people, who were empowered by the government’s implementation in their interest, wellbeing, and progress. He stated that this is the mark of good governance, a competent government, and empowerment of the people.
This story was first published by Antigua News on : antigua.news/2023/12/15/antigua-and-barbudas-economy-achieves-8-1-percent-growth-in-2023. © 2023 Antigua News. Republication without permission is not allowed.
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Mae-Mary December 15, 2023, 6:07 PM