Senator Browne Confident in Surpassing IMF Expectations

Senator Colin Oneal Browne expressed confidence during the 2025 Budget Debate in Parliament that Antigua and Barbuda will surpass growth projections set by the International Monetary Fund (IMF). He pointed to strong economic recovery and sound fiscal management as the basis for his optimism.

Browne highlighted the IMF’s projection of 5.8% real GDP growth for 2024 and 3.5% for 2025, noting that the country had already exceeded expectations for the current year.

“We surpassed the 2024 projection, and we are confident that with the continued support and contribution of every working person in our country, we will exceed the projected 3.5% growth for 2025,” he said.

The senator attributed the country’s success to what he described as bold leadership and effective economic policies. He noted that the government’s initiatives, including job creation and investments in tourism infrastructure, have contributed to a resilient and growing economy.

Browne also addressed the country’s fiscal discipline, citing Antigua and Barbuda’s ability to pay off its $330 million debt to the IMF in a single payment.

“This administration has demonstrated strong, bold leadership. We were on the brink of a failed state, but we paid off every cent owed to the IMF and have been moving forward ever since,” he said.

The senator pointed to the creation of over 2,000 jobs in sectors such as tourism, where projects like the Royalton Chic Jolly Harbour renovation are already generating employment.

He encouraged citizens to look at data from entities like the Medical Benefits Scheme and Social Security, which he said reflect rising employment levels.

Browne rejected claims from opposition members that economic improvements were not being felt by ordinary citizens. He referenced initiatives such as duty-free concessions and opportunities in tourism, which he said have benefited individuals and businesses alike.

He said despite challenges such as limited access to concessional financing and the global climate emergency, Browne insisted that the country is on a path to continued growth. “We have not only rebounded from the 19% economic contraction caused by the COVID-19 pandemic but have bounced forward with strong leadership and resilience,” he said.

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