Antigua St John's - With a projected economic growth of 2.26 percent for the year 2012, Antigua & Barbuda staggers behind its sister ECCU nations as being one of only two nations to record negative growth so far for the year.
Advisor to the Eastern Caribbean Central Bank (ECCB) Sybil Welsh told media operatives in a banking-journalism training seminar on Thursday that following a recent assessment Antigua & Barbuda was found to have recorded a negative point two four (-0.24) percent growth for the year.
St. Kitts is the only other country in the OECS to record negative growth this year, with negative point four five (-0.45) percent growth so far.
When contacted for a comment on the latest revelation finance minister Harold Lovell first sought clarification on the source of the figures, before noting: “In which case I cannot comment. These are not official numbers.”
Economic growth and GDP are measured by a nation’s level of consumption, investment, government spending and net exports, and Antigua & Barbuda has declined noticeably in all areas.
Growth in other parts of the region made available shows Dominica gaining 1.74 percent, Grenada with 0.69 percent, Montserrat with 1.9 percent, and St. Vincent & the Grenadines with 0.12 percent. All these figures reflect poor economies with all falling short of the 6-7 percent needed to be considered on the road to recovery.
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33 Comments In This Article
@WADA
ANTIGUAN WOMAN
Solution to our woes?
Antigua and other tourism based economies suffer due to less visitors. Governments in turn raise taxes, which means less disposable income for the middle class who then cut back, shutting down the next level. So, I cut my own g**, wash my car, and iron my clothes as I can no longer afford to pay/employ persons to do these jobs. What meaningful change can we (individuals, private sector and government) do to reverse/improve this?
I don't have all the answers but would like to see suggestions?
wada
Whatever will be #2
Observer
Whatever will be #1
Observer
Audrey
audrey taylor
Audrey
audrey taylor
Asarni Thomas - school meals mess
..
tenman
Asarni Thomas - thank your stars
..
tenman
Antigua economy will grow again
sitco
@ persons saying UPP can't manage Antigua.
I only thing I cared to point out in my post is that there are no comments on that article, however, we have a negative article and this apparently is best thing to comment on.
I find is quite sad that people CLAIMING they really want the best for Antigua use smear, incomplete issues or in other words FEAR to convince willing listeners. Coming to Caribbean Arena simply to look for a negative article to comment on while ignoring positive ones only shows your agenda isn't comprehensive to the well being of Antigua.
Asarni Thomas
@ the person saying UPP must go.
The reason I ask is because I want to see if you are unbiased fair and objective, or if you are just here to campaign.
Asarni Thomas
@ Fed Up
Skyewill
@GoodJobBob
Letting the British kick Antigua out of the UK" blah blah blah. It is no doubt a hard job(?) trying to penetrate the sawdust surrounded by your cranium but there's no harm in trying, so here goes. Antigua was never in the UK as you like to put it. Antigua and Barbuda was, like many other colonies, a part of the British Empire which then became the British Commenwealth of Nations commonly known as the Commonwealth. It is still a member of that community. Antigua was never kicked out of anything although I venture to say some good would be done if it were to kick you out of its territory. The kicking out which you might have in mind was when your benefactor Stanford (when are you going to have tea and cakes with him again?) was kicked out of Montserrat by the British (any idea why, you idiot?) and you have since been reduced to a life of torment brought about by one of the Seven Deadly Sins; you know which one I am referring to. That's enough of educating you for today, you silly whatnot. Get back to the back of the class!!
oversee
@ Morris
Skyewill
@Barbuda - Son of Soi
Skyewill
RE: Antigua Records Negative Economic Growth
Anyone that thinks the old party can do any better is an idiot, they had more years than this lot, in a better world economy and couldn't do it. Fifty years of inept management has bought antigua to this point, not just the past 8 years of UPP, or the previous 25 years whatever it is of ALP, it's the whole thing. Bad management, no bad isn't correct, lousily bad management by a bunch of inept, inexperienced dunces.
Fed Up
Antigua Records Negative Economic Growth
Anu
@ Barbuda - SoS (correction)
Morris
Re. 2.26%
Brainchild
@Skyewill
Military doctrine, out of necessity, dating back centuries have determined that FOUR is the optimal number not one. Four members to a fire team. Four members to a Squad. Four Squads to a Platoon. Four Platoons to a Company. Four Companies to a Battalion. Even in corporate America, it has been determined that managing more than Four Units or Individuals leads to problems.
Your analogy does not hold water. Interesting that you went back to an age when mankind thought the world was flat, America was the far east, and sucking blood from wounds with leech would cure disease. Wheel and come again... even Freud's theories have been strongly criticized. Quote a theory from 2012; and you will be more plausible. By the way... I am sipping a coke and writing this response... at the same time.
Barbuda - Son of Soi
De Real Observer
Osbert R. Frederick
@GoodJobBob
down to earth
Che
..
tenman
Failure
young analyst
Negative Growth Again
In the ground, even though this type of product sells its self. Now
People, why everyone think they could save an already failing
Country. Any suggestion.
Robinhood
Please proof read before posting
"With a projected economic growth of 2.26 percent for the year 2012, Antigua & Barbuda staggers behind its sister ECCU nations as being one of only two nations to record negative growth so far for the year." Who had growth of 2.26% A&B or ECCU nations ?
-che-
Che
Square Pegs
Learning how them mind works is also a part of therapy. When you understand how things work not just structurally but also functionally you become more aware and conscious.
REF:
Wundt W., (1963) Lectures on the minds of men and Animals, Leipiz: Engleman
Skyewill
NOT SURPRISING
..
tenman
RE: Antigua Records Negative Economic Growth
And with more and more companies and people earning less, the Government will in-turn earn lesser and lesser taxes....and the hole continues to deepen.
The objective of the Government is to create an environment that allows companies and people to grow and spend, which in-turn will earn the Government more and more taxes.
The Government cannot continue to stifle business and people, in an attempt to maintain and grow our welfare state to keep them in power.
It's simply unsustainable, the Government alone cannot be the only entity seem to be spending monies.
R. Berry
UPP gotta go
Hmmm
Common denominator- University of the West Indies
Skyewill
RE: Antigua Records Negative Economic Growth
Fed Up
RE: Antigua Records Negative Economic Growth
What is the plan? Manufacturing? Services (other than illegal extraterritoria l internet gambling)?
At the current rate, lobster and fish stocks will crash before the end of the decade and Antigua has yet to be able to provide for it's own food consumption.
Letting the British kick Antigua out of the UK seems to be a pretty bad decision right now. Unfortunately, as usual, it will be others who will have to take responsibility for this folly of "independence".
GoodJobBob
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