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Caribbean's economic growth expected to slow until 2023

Similar to the global outlook, growth in the Caribbean region is expected to slow until 2023.
 
The World Bank's Economic Prospects report indicated that growth is projected to soften to 2.6 per cent this year.
 
Growth in 2023 is projected to be just 0.1 per cent better at 2.7 per cent.
 
The report says growth continues to be affected by fiscal and monetary policy tightening.
 
Improvements in labour market conditions continue to be sluggish, and external conditions are less supportive for growth.
 
However, the World Bank says growth should still bring the region back to pre-COVID-19 levels. 
 
It noted that recovery is expected to be uneven across the region, and prolonged in some countries. 


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