ANTIGUA AND BARBUDA PROJECTED TO BE AMONG TOP-FIVE FASTEST GROWING LAC ECONOMIES – ECLAC

Antigua and Barbuda is forecast to be among the top five fastest-growing economies in Latin America and the Caribbean for 2022.
The figures were released on Tuesday by the Economic Commission for Latin America and the Caribbean, ECLAC, the United Nations regional body.
It outlined its projections in a new report entitled – “Economic survey of Latin America and the Caribbean 2022: trends and challenges of investing for a sustainable and inclusive recovery.”
ECLAC expects the twin-island state to experience growth in Real Gross Domestic Product of 7.5% for 2022, placing it as the 5th fastest growing economy, behind Guyana (52.0%), Venezuela (10.0%), The Bahamas (8.5%) and St Lucia (8.0%).
Antigua and Barbuda is also forecast to be the second fastest growing economy within the OECS sub-region behind the 8.0% for St Lucia.
Dominica (5.7%) St Kitts and Nevis (5.0%), Grenada (3.7%) and St Vincent and the Grenadines (2.7%) trail Antigua and Barbuda in the revised figures.
ECLAC says Latin American and Caribbean countries are facing a complex economic outlook in 2022 and in the coming years.
It points to lower economic growth being compounded by strong inflationary pressures, little dynamism in job creation, declining investment and growing social demands.