Guyana is expected to record the highest growth among CARICOM countries this year while Haiti will record under one per cent growth in 2023, 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 the discovery 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, will 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.
