The Caribbean Development Bank (CDB) is projecting growth for Dominica’s economy in 2016.
In fact, the CDB has projected the island’s economy will be among the top three performers in the Caribbean this year.
According to the CDB, the top economic performers in 2016 will be the Turks and Caicos, with growth rate of 5.4 percent, followed by St. Kitts and Nevis at 4.5 percent and Dominica at 3.9 percent.
At its annual press conference on Wednesday, the CDB pointed out that 13 of its 10 borrowing member countries are expected to show faster growth this year as compared to last year while Trinidad and Tobago and Suriname are expected to experience negative growth.
President of the Bank, Dr. William Warren Smith, said he is ‘guardedly optimistic’ about Caribbean economies in 2016, noting they are in a ‘recovery mode.’
“I want to conclude that Caribbean economies are in something of a recovery mode and in my view that’s fair comment except that this recovery is occurring at a time of great uncertainty in what is emerging as somewhat topsy- turvy external environment,” he said. “Ladies and gentlemen let me conclude my presentation by saying simply that I am guardedly optimistic about 2016. Economic recovery remains fragile but we expect that countries will continue on an upward growth trajectory.”
This is great news for Dominica. The projected growth is anticipated considering that the economy contracted in 2015 due to the passage of Tropical Storm Erica. So CDB would be factoring that into their growth projections. But comparatively what is the growth worth if new employment is not created, and our foreign exchange does not out perform previous years. What does it matter if foreign direct investments is not generating opportunities for the country
But more importantly are the sales of our ordinary and diplomatic passports but who really benefits from this Dominica or the passport selling agents? But I like the idea that we will have the highest growth rate obviously since we selling more passports in the OECS… no need to sell TOILET PAPER OR BANANAS no more
Just remember June is fast approaching and we are yet to get a detailed report on how much of the 1.2 billion has been received to reconstruct the island’s infrastructure
With all due respect to the CDB, is it the Commonwealth of Dominica you guys are talking about?
Nothing is happening in Dominica. The only toilet paper in Dominica now close down because of the spite of the government and those with an agenda to cripple those who wouldn’t support labour.
Mr CDB after storm errikka hearing you talk about growth is ridiculous. ..
CDB needs to come and stay Dominica for a week. …
The only growth we experiencing is negative growth example poverty, crime, drugs, more inmates at our jail, unemployment. ….
(Zammy) if is that’s what you hope for our country, thank you. Dominica is progressing despite the recent natural disaster. Your negativity will never stop or hinder our progress. Remove your political glasses and you will understand what reputable organizations like the CDB, ECCB and IMF are talking about when they present well researched analytical projections of a country economic situation. They have no axe to grind and they are not in pockets of any political party as you are. You all are real haters and wish Dominica will never improve. Dominica does not belong to Skerrit and one day he will exit the scene but the country will be left for us. So stop this bashing of the country and try to be more optimistic when you make your comments. All the negatives you mentioned are experienced by all countries even the most developed. Which country is without poverty, drugs, and unemployment. Guess you are living in Mars. You talk of business closing, are there any new…
i’m quite positive that Dominica will bounce back if we all work together but if we have negative citizens we will not go anywhere. The Government is trying but most of the people are wicked.
“Guardedly optimistic”? What the heck is that? The economy is in the hole and not coming out any time soon.
the only way that can happen is if we stop importing products we make and start exporting products we make. Besides damn bananas because latin american countries have farms miles and lies long with bananas and there is no competitive advantage for Dominica except for local comsumption and regional exports.
Also;
THE MINISTER IN CHARGE OF TRADE IS AT FAULT HERE! This is the reason why companies in Dominica are failing.
For such a small country with such a small population you have to enact trade laws & policies that benefit your country.
If you have a Dominican factory that makes SOAP PRODUCTS there is no reason why you are allowing the importation of soap products.
If you have a Dominican company that BOTTLED WATER and the country has 365 rivers why on earth are you importing water?
If you have a Dominican company makes BEER and RUM why are you dummies importing Rums Vodka and Beer from other countries and marketing it? FYI DR only sells Presidente and Brugal in DR…
Check out this story. It seems to be saying something quite different
http://www.caribbean360.com/business/cdb-predicts-slower-economic-growth-for-region
This is like holding a bounced check in the amount of 1Billion dollars. Don’t worth a sh**t.
I would like to believe that The growth forecasted is based on the assumption that there could be moneys coming into the economy for the rebuilding effort.
But after -2.7 percent drop a 2.7% rise only take you back to zero
Ladies and gentlemen, (For we walk by faith, not by sight:) 2 Corinthians 5:7. As a Christian nation, lets’ Speak Faith and call those things which be not as though they were Rom. 4:17
We feel very sick and all signs are leading to worse but the doctor, without even visiting us says we will be well. Therefore let’s believe the doctor ok
Growth will be fueled by the construction sector. This is expected after a major disaster. Please Labourites, this is nothing to pat your backs for. And for UWPites, this is nothing to view with any suspicion. Check with the economists as I only did Econ 101 at University.
Suck on that, if you don’t have salt
http://www.msn.com/en-us/money/markets/citi-here-comes-a-global-recession/ar-BBpZwTB?li=BBnbfcL&ocid=iehp
I challenge this CDB guy to have us borrow $1.4 billion from his bank. If there’s growth as he predicted, lend us the billion.
Let this guy fool you.
Cannot believe that Warren,CDB take the financial ministry data and projected that nonsense.
There were times CDB would not take nonsense from anybody. Boy things really change.
after 50 years in dominica. i know growth and misery when i see it… and right now is misrery people seeing except for the friends of thos corrupt political ticks we have here
Ahwa!!!!!!
That’s not enuff information to convince me!!!
What areas of de economy will lead that growth???????
Is this guy serious????
Guardedly optimistic eh!!!!!!!!
So……
The CDB official has now joined the ranks of the cussed out; paid under the table; corrupt; massa lover imbeciles who live in Dominica because he has projected something good for the country?
You guys are really serious about expecting genuine Dominicans who love and have an interest in its welfare to join you in this constant diatribe against anybody who dares to say anything positive about the country, particularly if it may give some kind of credit to the government? Not likely.
Can you all please sit down and develop a strategy to change course otherwise………..
Barbara, one thing you need to remember is that when you are dealing with the human element never put anything unethical past them; not even me (Mr. Perfect) okay.! Hahahahahahahahahahahahahahah!
Just because he has a title of president of some CDB does not make him a god; the nonsense he spoke has no substance, nor credibility. In mathematics there is something called a “variable” simply means anything that can make or cause a difference, or bring about a change. What has varied, or what will vary in Dominica in the months ahead that one anticipates will cause a growth in the nations economy?
The man did not present any form of statistics, his argument is not based on anything factual; his rhetoric came out of the sky, wrapped in thin air, his predictions are absolutely unrealistic!
One do not have to be a rocket scientists to identify when a person comment or argument is designed to serve a purpose, or a particular agenda. Now if he said: if Skerrit sell more passports…
Now if he said, if Skerrit sells more passports than he sold in the last fifteen years, collecting more money ad depositing the proceeds into the government treasury, without anybody skimming the cream of the top that will serve as a variable; that I could understand.
Otherwise; that guy is simply piping hot, hot air!
Franciso, Thanks for the humour. Good for the soul!
Firstly, my analysis is that DNO took an extract of an article and under normal circumstances the reader would be allowed to click the link to read the full story. Not sure why it was not done in this instance, but note that I am not ascribing any ulterior motive to DNO for not doing that.
Secondly, the article reports that the “CDB” projects growth for Dominica, not the President of the CDB per se and his comments about being cautiously optimistic were about the Caribbean economies in general. I hope my comprehension is okay so far.
Thirdly, if the President of the CDB did indeed personally make that projection about Dominica, human element nothwithstanding, I would hate to think that a professional at that level from such an institution would bring himself and his organisation into disrepute to favour Dominica and for what purpose, may I ask?
and say : ENOUGH IS ENOUGH !!
CDB is right, there will be a growth for the Caribbean country in 2016. but you don’t need to be the boss man of the CDB to figure it out. just look at the news. the middle east is on fire, north Africa is on fire. none of the European clientele will go there this year !! WHo will choose a war zone as an holiday destination. same thing for the north American people, do you think they want to go to Paris or to Greece or Tunisia?? the problem is that this growth that Dominica might ..’Might ” have will be just mathematic and not because our product is better .. so it won’t last !!
and talking about war zone……….we might be one very soon too.
Albert Einstein was saying : the problem is not the people who destroying the world, .. the problem is the people who looking at this destruction doing nothing to stop it….
if as Dominican citizen, lovers of our freedom, lovers our value of community spirit, , we still have a little bit of self-esteem, we should all stand and say…
On 26 Jan. 2016 DNO reported that Dominica’s economy saw a decline of 2.7% compared with the previous year, a negative growth. This reduces our economy to 97.3% of that of 2014 and a forecasted growth of 3.9% by the CDB for the current year would only bring us to just below 1.1% growth for 2016.
What are these projections based on? Any preschooler could make those same projections.
Very, very good question!
Are these people for real….? Are they, we really predicting, projecting growth in Dominica, what the hell growth and where? OOOOOOhhh, I know where in the Punjab, somebody unqualified gain growth by winning One fake doctorate. So much corruption in this place, we are not going anywhere.
Has this CDB man travel about Dominica
Reading comments like that , makes one wonders if such people are not paid under the table to make such stupid comments only for self serving purposes, and gratification; or to help some political agenda. How can he predict such nonsense when the status quo remains the same in the country?
No new industries, no new jobs, nothing to exported in exchange for money, or foreign exchange. Less tourist ships are calling; with the aftermath of Erika, things are far from returning to normal, and here is this talking growth in 2016.
Where is your intelligence guy?
Skerrit he will believe anything, Everybody out of nowhere make fools out of Dominicans
He must be reading from the same book Commissioner Carbon read when reporting crime is on the decline
Positive news is always welcomed but news based on predictions leaves much to be desired and always suspect. A well know gardeh (Fortune teller) predicted 20 years ago I would be the richest man in Dominica. Today I am still waiting for that ship with the riches to sail in
I should have known because she never saw I did not have the $50.00 fee she wanted. 
At this point in time I am prepared to say mister fooing or has ulterior motives. Even Vince Henderson admit in so many ways is passport money that financing everything. Agriculture dead, tourism lagonee, belfast close, McKenzie closing, Brezee Mart close, Wichchurch and Asatphans experiencing decrease in sales so I will hold my breath. I sincerely hope he is right for our sake otherwise chou-nou-toute-paytay next year!
Always Assertive!
2015, Dominica had the lowest economic growth. 2016, we are going to be in the top three? Not under those tired, lazy, out of ideas ministers we have running the country. I have absolutely no confidence in them, agriculture suffering, tourism isn’t doing well either, no jobs. If there’s any growth we might need a microscope to see it.
There should be growth in Dominica with all the grants and donation made.Millions of dollars if they reach the right places
He means Dominican Republic?? Where in God’s name institutions like the CDB come up with this stuff??? They don’t see the country? The inefficiency, the lack of jobs, the nose-diving of tourism and agreiculture, the ghetto we call the capital Roseau? SMH……
Where are the growth variables in this equation? CDB based its estimates on linear trends (historical data). Manufacturing is taking a head dive and the CBI program is not as robust as befofe. Farming should pick up, but it will be nowhere close to what it should have been, had the current government invested seriously.
I don’t believe a word of it. No, the magic will happen for other Caribbean islands but not for us. In the case of Dominica, this is pure horse manure. Projection is one thing, reality however is something else. Before you Labor baboons get your tails up and get excited about this fiction just think about the amount of times in the past when there were hurricanes in the Atlantic ocean that were projected by the weatherman to be on due course to collide with the nature island but they steered northwards at the last moment. Expectations and targets are not always realized and with Skeritt at the helm we can only live in fear. Sorry sir, the only growth projection that we have for 2016 are our ministers’ pockets
Please next time you refer to the PM, use the word “Doctor’ before his name. You are too damn disrespectful. As for your prognosis of Dominica’s economy, you fail to indicate where your information is coming from. You cited the annual hurricane season. I almost agreed with you that given that reality, expectations and trends can change overnight. How do you blame Doctor, the Hon. Prime Minister Skerrit for that “act of God”?. Show me your source of information in support of your negative prognosis on Dominica’s economy. Can you make any suggestion as to where a country like Dominica can get accurate statistical data to assist in forecasting economic performance? Please don’t mention the “Layou River Economics” formula of your dear leader. That just will not work.
The PM did not go to school to earn that degree so why should we be calling him DR?
How you so ignorant don’t you know according to the high level education system people who get honorary doctorate are not referred to as Doctor and on their cv they have to enter it as an award it doesnt fall under education. Go do your research before you call people disrespectful. Do you hear Americans call Obaman Doctor nor the the president of Venezuela. and the list goes on they to were given honorary doctorates. Never thought I would live to see the day when my DOMINICAN PEOPLE would be so damn stupid an ignorant. having the world laughing at us.
Jean you are welcome to call him Doctor all you like or even the Saviour if you prefer. That is your prerogative but don’t demand that kind of address from anyone else. The furthers I personally will go is to address him as Mr.
FD you killing me
I laughed until I literally cried while reading your response but you are 1000% correct. 
Always Assertive but laughing this time!
Cant wait for the UWP naysayers mouth peice let me hear their tale on how the CDB president only talking because he on skerrit payroll come on guys in my directors voice ACTION
He is only talking rubbish. PERIOD. UWP.
Man up! Prove him wrong. But please don’t wear any coloured “cap”.
Nabes and I, growth is expected because of the rebuilding efforts following TS Erika.
where is the rebuilding u talk about
Growth under Skerrit, I doubt that, no investement was done to influence growth
That would be good. We shall rise again indeed!
Ok, one, two, three…..
I’ll remember this article