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World Bank predicts significant growth for Caribbean economies this year

The World Bank today predicted that economic growth in the Caribbean is expected to strengthen to 7.1 per cent this year, with robust performance continuing in 2025 at 5.7 per cent.
 
In its latest Global Economic Prospects report, the financial institution said, excluding Guyana, growth is forecast at 3.9 per cent in 2024 and 4 per cent in 2025, driven by moderate tourism recovery and remittances.
 
Haiti is the only CARICOM country to register negative growth this year, pegged at -1.8 per cent but improving to 1.9 per cent the following year.
 
Jamaica's economic growth this year is projected at two per cent declining slightly to 1.6 per cent in 2025.


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