Business

World Bank pessimistic about Haiti’s economic growth

The World Bank has expressed pessimism about Haiti’s global economic outlook after negative growth in its Gross Domestic Product (GDP) of – 0.9% in 2019.

According to the World Bank, this negative trend should continue this year and in 2021 before a rebound in 2022.

The World body also said that in addition to Haiti, two other economies will record negative growth in their GDP – they are Argentina and Nicaragua, however it is predicted that their economies should rebound in 2021.

World Bank analysts say that Haiti is the only country in the Latin America and Caribbean region to record a contraction in its GDP.

The analysts also noted that growth in Latin America and the Caribbean in 2020 should reach an average of +1.8 per cent , while that of global growth will amount to +2.5 per cent .

The Dominican Republic remains the leader in the region, followed by Panama.

CMC

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