Economist Optimistic About Antigua and Barbuda’s Projected 6.3% Economic Growth

UWI Five Islands Campus Principal Professor C. Justin Robinson is expressing optimism about the projected 6.3% economic growth for Antigua and Barbuda this year.

According to him, this growth is also a positive development in the region amidst various economic challenges.

The United Nations Economic Commission for Latin America and the Caribbean (ECLAC) released its annual report, in which Antigua and Barbuda is forecasted to have the second-highest economic growth in Latin America and the Caribbean, with the real Gross Domestic Product expected to expand by 6.8%.

Despite the positive outlook, Professor Robinson emphasized the importance of the government capitalizing on this period of high growth while remaining vigilant against potential risks stemming from external factors.

“You are not always going to have high growth. We live in a vulnerable part of the world. We are vulnerable to disasters and a rise in geopolitical tensions. When we have those periods of growth, as we have had for almost eight years outside of COVID, we must build up buffers. So, when the inevitable crisis crimes then, the government can respond and protect the vulnerable around us,” he said in an interview with ABS.

He said it is also important in this period to remain disciplined on the expenditure side and to have a robust effort to collect taxes due.