Prime minister promises 7.5 per cent growth for 2020

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By Elesha George

Prime Minister Gaston Browne has declared a new dawn for the economy of Antigua and Barbuda with a projected 7.5 percent growth rate and $1 billion worth of private sector investment.

The pronouncements came in his New Year’s message entitled “THE BRIGHT PROSPECTS OF 2020”.

Browne said his government would continue to stimulate economic growth in 2020 by, among other things, using two main platforms – foreign direct investment and tourism which brought the country 6 per cent growth in 2019.

The Prime Minister listed a few of the expected investments, to include: $325 million in construction by Peace Love and Happiness (PLH) Ocean Club on Barbuda; $125 million renovation and expansion of the existing Rex Halcyon Hotel by Sunwing; a $270 million beach club at Fort James by Royal Caribbean Cruise Lines; the completion of the fifth berth at Point Whar to receive Oasis class ships for the 20/21 cruise season; and the completion of the $250 million cargo Port by the end of the year.

Read more in today’s newspaper

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  1. 7.5% growth for him and his foreign counterparts, note carefully that he only listed foreign direct investment and named all foreign projects.


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