Antigua and Barbuda is projected to remain the second fastest growing economy in the Latin American and Caribbean region, according to the Economic Commission of Latin America and the Caribbean.
Only oil-rich Guyana is growing at a faster rate than the twin island nation which is still on track for GDP growth of 9.5 per cent this year, before seeing a slight dip to 8.5 per cent next year.
On Tuesday, ECLAC issued its updated financial report entitled 'Economic Survey of Latin America and the Caribbean 2023: Financing a sustainable transition: investment for growth and climate change action'.
The UN regional economic body predicts most regional economies will retain low levels of growth for 2023 and 2024, "affected by a negative global and very complex regional economic outlook".
The report says the Caribbean region, excluding Guyana, will experience growth of 4.2 per cent in 2023, compared with 6.3 per cent in 2022.