Antigua’s Economy had a ‘very difficult’ period between 2008-2013, UWI Professor says

The content originally appeared on: Antigua News Room
PVC Prof. Justin Robinson

Antigua and Barbuda only had 8 years of negative economic growth since independence, data presented by Professor Justin Robinson has revealed.

He told Pointe FM yesterday that the country had a particularly difficult period between 2008 and 2013 with the exception being 2012.

Listen to him by playing the video below:

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Read More From PVC Robinson below:

Antigua’s Economic Growth: A Testament to Resilience and Stability

Professor Justin Robinson, head of the University of the West Indies (UWI) Five Islands Campus in Antigua, recently highlighted the impressive economic growth of Antigua and Barbuda over the past 46 years.

His analysis provides a compelling overview of the nation’s economic resilience and stability, even amidst global challenges.

Professor Robinson noted, “If you look at Antigua from 1978 to 2023, it’s one of the few economies in the region that, for those 46 years, has had 38 years of positive economic growth.

The natural tendency of this economy is to grow.” This statement underscores the robust economic performance of Antigua and Barbuda, where only eight years out of 46 experienced recessions.

The years of recession identified by Professor Robinson include 1982, 1995, 2005, 2008, 2009, 2010, 2011, 2013, and the significant downturn in 2020 due to the COVID-19 pandemic, which saw a negative growth rate of 17.5%.

He explained that many of these recessions were linked to external shocks, such as natural disasters and global economic crises.

Despite these challenges, Antigua and Barbuda’s economy has consistently demonstrated its capacity for recovery and growth. Professor Robinson emphasized that “the natural tendency of this economy is to grow and generate wealth.”

He contrasted this with the economic situation in Barbados, noting that the Barbadian economy has not seen significant growth in over 20 years.

From 2014 to 2019, Antigua and Barbuda enjoyed consistent positive growth, interrupted only by the global pandemic. The rapid rebound following the COVID-19 downturn further illustrates the resilience of the nation’s economy.

In his analysis, Professor Robinson likened economic growth metrics to vital signs in a medical checkup, stating that for economists, real GDP growth is a key indicator of economic health.

Antigua and Barbuda’s track record in this regard is noteworthy, highlighting the nation’s strong economic foundations and its ability to weather external shocks.

As the head of the UWI Five Islands Campus, Professor Robinson’s insights reflect a deep understanding of the region’s economic landscape.

His assessment reaffirms Antigua and Barbuda’s position as a robust and resilient economy within the Caribbean region.

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