Caribbean Business – These Caribbean Nations Are Forecast To Buck Growth Predictions

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ExxonMobil affiliate, Esso Exploration and Production Guyana Ltd., encountered more than 295 feet (90 meters) of high-quality oil-bearing sandstone reservoirs off Guyana.

By NAN Business Editor

News Americas, NEW YORK, NY, Fri. June 15, 2018: The World Bank claims growth in the Latin America and the Caribbean region is projected to accelerate to a downwardly revised 1.7 percent this year but several Caribbean nations are forecast to buck that prediction, a News Americas analyst has found.

Latest data from the World Bank, released this week, shows that at least 7 Caribbean nations could grow more than the1.7 percent forecast. The Top Seven New Americas 2018 Growth Ranks are as follows:

1: The Dominican Republic

The DR is forecast to again lead the region in growth this year with a project 5 percent economic growth; an increase from 4.6 percent last year.

2: Guyana

Buoyed by oil finds, Guyana was surprisingly in the second spot on the growth prediction ranks, with the South American CARICOM nation estimated to growth by 3.8 percent this year, up from 2.1 percent last year.

3: Grenada

Coming in at third on the Caribbean growth ranks this year is Grenada with a project 3.3 percent growth. However, that is a marked drop-off from last year, when the Spice Island showed growth of 4.5 percent.

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4: St. Lucia

At fourth on the list is St. Lucia, with growth forecast this year at 2.8 percent. That’s up from 2.1 percent from last year.

5: St. Vincent & The Grenadines

Ranking at fifth is St. Vincent and the Grenadines, with the World Bank forecasting growth levels of 2.1 percent this year, up from 1.1 percent last year.

6: Belize

Taking the sixth spot is Belize, with growth for 2018 predicted to be at 2 percent, up from just a mere .9 percent last year.

7: Haiti

Rounding out The Top Seven New Americas 2018 Growth Ranks is Haiti with growth forecast at 1.8 percent this year, up from 1.2 percent last year.

THE PREDICTED LOSERS

Surprisingly, Jamaica, despite a steady tourism sector, is forecast to see just the base 1.7 percent growth this year, but it marks a rapid growth from just .5 percent last year.

Trinidad & Tobago is forecast to see only 1.6 percent growth this year, a spiral down from 2.3 percent last year while Suriname could see only 1.1 percent growth this year, but that is still a major spike up from the .1 percent it saw last year.


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