Guyana expected to record highest growth among CARICOM by IMF.

Guyana is expected to record the highest growth among Caribbean Community (CARICOM) countries in 2023.

This is according to the latest World Economic Outlook, released by the International Monetary Fund (IMF) on Tuesday. 

According to the IMF, Guyana, which is now recognised as an oil-producing country following multiple discoveries of the product a few years ago, will record economic growth of 37.2 per cent this year, increasing to 45.3 per cent next year. 

St Vincent and the Grenadines, which is the CARICOM country with the second highest predicted economic growth of six per cent this year, will register a five per cent growth in 2024. 

Antigua and Barbuda with a growth of 5.5 per cent this year, will see that figure decline slightly to 5.4 per cent next year, while Dominica and Barbados are projected to record economic growth of 4.9 per cent this year, dropping to 4.7 and 3.9 per cent respectively in 2024. 

The twin island Federation of St Kitts-Nevis will, according to the IMF projections, record economic growth of 4.5 per cent this year, dropping to 3.8 per cent the following year, while the Bahamas economic growth this year is projected at 4.3 per cent declining significantly to 1.8 per cent next year. 

Belize, Grenada, St Lucia and Trinidad and Tobago will all register growth of three or just over three per cent this year, even as the growth will decline to two per cent next year for Belize, increase to 4.1 per cent for Grenada, a decline to 2.2 per cent for St Lucia and 2.3 per cent for Trinidad and Tobago. 

The Dutch-speaking CARICOM country of Suriname will record economic growth of 2.3 per cent this year, increasing to three per cent the following year, while in the case of Haiti, where political and social unrest has engulfed that country, the economic growth this year will be 0.3 per cent, increasing to 1.2 per cent next year. 

(https://caribbean.loopnews.com)