Haiti to lead Caribbean, Latin America economic growth in 2014

GEORGETOWN, Guyana (CMC) – Guyana and Haiti are expected to lead the economic growth among countries in Latin America and the Caribbean, according to the recently released United Nations’ annual World Economic Situation and Prospects (WESP) report 2014.

It said that both Caribbean Community (CARICOM) countries are projecting to have economic growth of 4.5 per cent this year, followed by other CARICOM member states Trinidad and Tobago 2.5 per cent, Jamaica 1.2 per cent and Barbados one per cent.

Last year Guyana had economic growth of 4.6 per cent while Haiti’s growth was estimated at 3.5 per cent.

“Overall in the Caribbean region, growth is projected at 3.3 per cent for this year. Last year, growth for the Caribbean region was estimated at 2.4 per cent in 2013, slightly slower than in the last two years.”

The report notes that Latin America and the Caribbean are expected to hasten their growth to 3.6 per cent and 4.1 per cent respectively in the next couple of years, up from 2.6 per cent in 2013.