Although grappling with challenges related to climate change; wide fiscal deficits and high public debt; as well as high unemployment, the Caribbean Development Bank (CDB) yesterday projected that the region’s economy is expected to grow by 2% in 2019 and Guyana was one of the fastest growing economies last year.
This was stated by CDB President, Dr. Warren Smith as he shared the Bank’s forecast at its Annual News Conference, held in Barbados, according to a CDB press release.
“Despite projections of deceleration in global economic activity, the 2019 economic outlook for our Borrowing Member Countries is positive. CDB is projecting that real GDP growth will be around 2%, as construction, tourism, and the extractive industries such as gold and oil are expected to expand,” Smith was quoted as saying.
