Driven by continued economic expansions in the oil-rich territory of Guyana, the Caribbean Development Bank (CDB) said it expects regional growth to average 4.6 per cent this year. Speaking at an annual news conference held on Wednesday, the bank’s director of economics Ian Durant noted that, excluding Guyana, the region’s growth is expected to moderately average 2.5 per cent. While Guyana’s growth is expected to slow to 11.9 per cent this year following rapid oil production in 2024, the country remains a key contributor to region’s performance bolstered by increased tourism activity across various borrowing member countries (BMCs).
