LocalMoneyNews

CDB projects Dominica to have one of the highest economic growths in 2018

by: Dominica Vibes News - February 8, 2018
493 Views   5 comments

Dr. Justin Ram, Director of Economics at the Caribbean Development Bank

Dr. Justin Ram, Director of Economics at the Caribbean Development Bank (CDB) during the bank’s annual news conference on Wednesday 8 February 2018, announced that Dominica is one of two islands in the bank’s borrowing member countries which is projected to have the highest economic growth for 2018.

This 6.4% growth however comes after Dominica recorded negative growth of -6.9% for 2017 due to devastation caused by the passage of Hurricane Maria last September.

“The highest growth rates are projected for Anguilla and Dominica as they rebuild from the damage caused by the 2017 hurricanes. Antigua and Barbuda and the Turks and Caicos Islands are also expected to have strong growth,” he said.

Dr. Ram also revealed that all borrowing member countries are expected to have positive economic growth for 2018.

“We anticipate that the economies of all BMCs will grow in 2018; we expect the regional economy to grow by 2% compared with the 0.6% in 2017. This will be driven mainly by the return to growth in Trinidad and Tobago and a 2.3% uptake in Jamaica which accounts for about a fifth of regional GDP,” Dr. Ram said.