The Government of Antigua and Barbuda is set to implement a two-pronged approach to ensure that the benefits of economic growth are distributed to every citizen and resident.
Prime Minister Browne in making the announcement said that in 2021 and 2022, his government orchestrated a commanding economic recovery by taking bold and decisive action to contain the spread of the Coronavirus, open the economy, and return thousands of people to work, safeguarding their livelihoods.
He stated that data published by the ECCB indicate cumulative real economic growth of 15.1 per cent between 2021 and 2022 compared to the 17.4 per cent contraction in real output in 2020.
“With the many public and private sector projects to be implemented this year, the output is projected to expand by 9.4 per cent in 2023. “This would bring cumulative real economic growth to over 24 per cent for the period 2021 to 2023,” he stated
Prime Minister Browne said that during this budgetary year, his government will be making major adjustments to expenditure management and revenue administration. This he said involves resetting the approach to public sector operations to secure fiscal resilience and debt sustainability.
He stated that his government will also implement strategies for development that will further revitalise the economy in 2023 and beyond.
Prime Minister Browne also stated that his government will continue to act astutely to ensure that Antigua and Barbuda not only recovered to pre-pandemic GDP levels but will also surpass them.
“There can be no honest contradiction of the fact that our economy is rebounding with myriad business and employment opportunities available to citizens and residents,” Prime Minister Browne said.