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.
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.