CDB Projects Slow Economic Growth For Montserrat
The Caribbean Development Bank, CDB is forecasting only a slight improvement in Montserrat's economy in 2018.
In its latest outlook for 2018, the CDB says the economy will grow at a rate of 2.5 per cent this year, compared to 2.4 per cent in 2017.
Antigua will experience the most growth at 5.3 per cent, followed by the Turks and Caicos Islands 4.4 per cent, Grenada 3.7, Guyana 3.3 per cent and St. Kitts and Cayman Islands 3.2.
The CDB says Borrowing Member Countries exposure to the global risks is high; and there are also risks associated with natural disasters and other weather-related events.
It says the increasing frequency and intensity of these events highlight the need to improve resilience.
With this in mind, CDB is projecting regional economic growth of 1.8% for 2018.
The Montserrat economy began to take a nose dive in 2014 after recording a brisk 5.1 per cent increase the year before.
The economy worsened in 2015 with real growth recorded 0.4 per cent.
It started to show signs of improvement in 2016 and 2017 when growth in real output was recorded at 2.0 and 2.4 per cent respectively.
Meanwhile Montserrat is one of only four countries to show increase in debt-to-GDP ratio.
In Montserrat’s case it increased from 5.1 to 6.1 per cent.
The others are Trinidad, Bahamas and Belize.