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ECLAC Reports Economic Growth
Antigua and Barbuda is making waves in the economic sphere of Latin America and the Caribbean.
The latest report from the United Nations’ Economic Commission for Latin America and the Caribbean (ECLAC) paints an optimistic picture for the island nation.
By year’s end, Antigua and Barbuda is projected to clinch the second spot in regional economic growth rankings.
ECLAC’s forecast suggests a robust 6.3% increase in real Gross Domestic Product (GDP) for 2024, positioning the twin-island state as a rising star in the Caribbean economy.
While Guyana retains its crown as the region’s fastest-growing economy, with a staggering 29.2% growth projection fueled by its booming oil and gas sector, Antigua and Barbuda’s performance is nothing short of impressive.
The economic success story doesn’t end there. Looking ahead to 2025, Antigua and Barbuda is set to maintain its runner-up position in regional growth rankings.
ECLAC predicts a solid 4.8% expansion, trailing only Guyana’s projected 17.8% surge.
As Antigua and Barbuda continues to outpace many of its regional counterparts, it’s quickly becoming a focal point for economists and investors alike, who are keen to understand the factors driving this remarkable growth trajectory.
With this growth, then why are still having water supply problems, deplorable roads, rundown hospital, poor wages, low minimum wage, high taxes, pensioners can’t get pay on time, rundown school facilities, inhumane prison facility, no juvenile detention facility, no indirect and direct investment, no export, etc…