Caribbean’s Economic Growth In A Spot Of Bother

Global outlook, growth in the Caribbean region is expected to slow until 2023 according to the World Bank’s Economic Prospects report.

It noted that the growth is projected to soften to 2.6 percent this year.

Growth in 2023 is projected to be just 0.1 percent better at 2.7 percent.

The report says growth continues to be affected by fiscal and monetary policy tightening.

Improvements in labor market conditions continue to be sluggish, and external conditions are less supportive of growth.

However, the World Bank says growth should still bring the region back to pre-COVID-19 levels.

It is also said that recovery is expected to be uneven across the region, and prolonged in some countries.

Readers Bureau

Edited by Jesus Chan

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