Prime Minister defends economic record ahead of 2026 Budget

Prime Minister Gaston Browne has defended his government’s economic management, telling Parliament on Thursday that Antigua and Barbuda’s progress is rooted in improving people’s lives rather than producing “favourable statistics”.

Speaking ahead of the 2026 Budget presentation, Browne warned that national gains should not be taken for granted. He said his administration inherited one of the most difficult economic periods in modern history when it took office in 2014, marked by fiscal and banking failures, a 25% economic contraction and debt levels exceeding 100% of GDP.

Browne said the turnaround was deliberate, citing average real growth of 6% between 2021 and 2025 and a projected primary surplus of $254.9m. The debt-to-GDP ratio has fallen to 61.4%, close to the regional benchmark.

He highlighted the abolition of personal income tax in 2016, which he said boosted consumption and business activity despite predictions that it would weaken government revenues.

The Prime Minister pointed to strong performance in construction and tourism as evidence of investor confidence. Construction output rose from $273.5m in 2013 to $900m in 2024, while cruise arrivals are expected to reach one million passengers in 2025.

Browne also credited improvements in water production, housing, healthcare, education and port infrastructure, along with job creation averaging more than 1,100 posts a year. Unemployment is estimated at 5.5%.

He said these gains reflect Antigua and Barbuda’s evolution into what he described as an emerging economic powerhouse, driven by confidence and disciplined management.

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