Caribbean Development Bank (CDB) is cautiously optimist in projecting growth for Dominica’s economy in 2016. The CDB has projected the island’s economy will be among the top three performers in the Caribbean this year. The regional development bank says the top economic performers in 2016 will be the Turks and Caicos, with a growth rate of 5.4%, followed by St. Kitts & Nevis at 4.5% and Dominica with 3.9%.
The CDB pointed out on Wednesday, that 13 of its 10 borrowing member countries are expected to show faster growth this year, as compared to last year while Trinidad & Tobago and Suriname, are expected to experience negative growth. President of the Bank, Dr. William Warren Smith, said he is ‘guardedly optimistic’ about Caribbean economies in 2016, noting they are in a ‘recovery mode.’
“I want to conclude that Caribbean economies are in a recovery mode, and in my view that is fair comment, except this recovery is occurring at a time of great uncertainty, in what is emerging as a topsy-turvy external environment,” he said. “Ladies and gentlemen let me conclude my presentation by saying simply, that I am guardedly optimistic about 2016. Economic recovery remains fragile, but we expect that countries will continue on an upward growth trajectory.”
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