PM Browne Defends Decade of Economic Gains Ahead of 2026 Budget Presentation

Prime Minister Gaston Browne delivered a strong defence of his administration’s economic stewardship on Thursday morning, just moments before presenting the 2026 National Budget.

Speaking in Parliament, he reminded the nation that Antigua and Barbuda’s development is ultimately about improving people’s lives, not simply producing favourable statistics, and cautioned that progress should never be taken for granted.

Browne reflected on the conditions his government inherited in 2014, describing that period as one of the most difficult in the country’s modern history. He said the nation was emerging from the global financial crisis and facing what he termed widespread fiscal, economic, and banking failures.

Growth had stagnated at around one percent, the economy had previously contracted by 25 percent, the fiscal deficit hovered at nearly three percent of GDP, and national debt exceeded 100 percent—rising to roughly 120 percent when unbooked liabilities were included.

Tourism performance was fragile, construction was uneven, and social programmes rested on narrow and unreliable revenue streams. According to the Prime Minister, the government of the day had been borrowing more than $250 million annually just to operate.

The Prime Minister argued that the turnaround that followed did not happen by chance. He reported that between 2021 and 2025, Antigua and Barbuda recorded average real economic growth of six percent and is now projected to achieve a primary surplus of $254.9 million and an overall surplus of $116.3 million. He noted that the debt-to-GDP ratio has fallen to 61.4 percent—almost half of what the ABLP administration inherited and now close to the Eastern Caribbean Currency Union’s 60 percent benchmark.

Browne pointed to the abolition of personal income tax in 2016 as a decisive moment that many critics predicted would cripple government finances. Instead, he said the economy strengthened as consumption increased, business turnover improved, and revenue remained stable through better fiscal administration and economic expansion.

He highlighted major growth in two key sectors—construction and tourism—as evidence of renewed investor confidence. Construction output, valued at $273.5 million in 2013, rose to $900 million in 2024, driven by hotel upgrades, new villa developments, investments in Barbuda, and strong private homebuilding activity.

Cruise tourism also grew significantly, climbing from 550,000 passengers in 2013 to a projected one million arrivals in 2025, supported by nearly twice the number of cruise calls. Browne credited this expansion to deliberate planning and sustained investment, saying it reflects a broader national momentum that can be “seen, felt, and soon tasted.”

The Prime Minister also listed improvements in water production, housing programmes, healthcare services, training opportunities and education, as well as upgrades to the nation’s port facilities. He said the government has created more than 1,100 jobs annually, reducing unemployment to about 5.5 percent, and has shifted the country from borrowing to survive to generating surpluses that support long-term investment.

Browne reiterated his long-held belief that Antigua and Barbuda is steadily becoming an economic powerhouse, arguing that ambition, confidence and disciplined management have been central to the transformation.