PM Browne says Antigua and Barbuda economy to grow by 9.4 percent in 2023


Mar 2, 2023

ST. JOHN’S, Antigua and Barbuda – 2nd March 2023…….Antigua and Barbuda’s economy is projected to achieve a 9.4 percent growth during this budgetary year despite the challenges encountered during the period of COVID-19 and the ongoing Russian war on Ukraine.

“The Eastern Caribbean Central Bank has forecast that Antigua and Barbuda experienced an impressive 8.5 per cent rate of growth in 2022, and has projected a whopping 9.4 percent growth in real GDP for 2023,” said the Prime Minister.

The country’s leader said that Antigua and Barbuda’s average rate of growth for the three-year period, since the COVID-19 pandemic, will be an unprecedented 8.2 per cent per annum.

“This performance was achieved notwithstanding the closure of Jolly Beach, Halcyon and Sugar Ridge hotels for most of this three-year period.  By any objective measurement, this is a remarkable achievement that distinguishes the effective management of our economy and that is cause for national pride, national satisfaction, and national praise,” he said.

Prime Minister Browne pointed out that this is a demonstration that the ABLP administration has already significantly progressed the economy along the road of resetting, recovering, and revitalising. 

“We did not waste time, nor did we spare energy.  And we are geared to strengthening, accelerating, and intensifying our efforts over this financial year for the good of all,” PM Browne stated.