Launching the Economic Survey of Latin America and the Caribbean 2015 in Santiago, Chile, the UN Economic Commission for the region, known by the acronym ECLAC, forecasts that South America will contract -0.4 per cent, Central America and Mexico will grow 2.8 per cent, and the Caribbean will expand just 1.7 per cent.
On a national level, the projections show, Panama will lead the regional expansion with a 6.0 per cent increase, followed by Antigua and Barbuda (5.4 per cent) and the Dominican Republic and Nicaragua (both with 4.8 per cent).
Mexico’s gross domestic product (GDP) will grow 2.4 per cent while Argentina’s will rise 0.7 per cent, the report showed, but Brazil will experience a contraction of -1.5 per cent while Venezuela will face an even greater decline of -5.5 per cent.
Upon presenting its most recent annual report, the regional organization called for vitalizing the investment process to resume growth and improve productivity in the region’s economies.
We can lie or try to distort the truth as much as we wish, but by some means or the other the truth will emerge: Last week Skerrit had a liar, disseminating false and lying information on DNO talking about Dominica had an economic growth evens high than that of the United States.
According to his and Skerrit statistics!
However, if we assess the statistics shown in this article, and one review what that Dominica liar told us on DNO last week it would not be difficult to discover that there has not been one bit of economic growth in Dominica for the past fifteen years!
So, what we are reading here today simply confirm that Skerrit exists in a mythical world, with actually no concept of how messed up is our economy. Cuba had no economy for more than fifty years, Skerrit’s Dominica is now wearing that crown Dominica has no economy!
The more broad a prediction is, the less useful it is. Different countries have different contexts and different policies and will experience different rates of growth as a result. In this case, ECLAC makes predictions about many independent countries, but when it comes to the Eastern Caribbean they look only at the ECCU as a whole: http://repositorio.cepal.org/bitstream/handle/11362/38715/ECCU_en.pdf?sequence=15
They do some breakdown by island, but not really enough to draw firm conclusions about Dominica’s overall economic picture.
Mr. Foerster, I share your frustration but one must bear in mind that the entire ECCU represents barely more than 600,000 people. In any case, in May of this year Miriam Blanchard, on behalf of our Govt., made a presentation in Barbados to the CDB still insisting that our economy for this year would show a growth of 2.4%. I hope she is right but I find that a tall order, given that this would mean more more than double the 1.1% we achieved in 2014 (also quoted by her). This is also at odds with the Worldbank. Furthermore, the current ECLAC report is a downgrade of their previous one of Dec. 2014 when they still predicted 7% growth for top performer Panama (now down to 6%). I think we’d better batten our hatches and as a first move start cutting our costs. I love my country but that does not change the fact that we are very, very vulnerable.
predicts? its been happening!
Only a few days ago Skerrit told us of growth in Dominica. Where does he get his wisdom from?? It’s just lies and political spin. When are Dominicans gonna wake up??
So where is Dominica in the picture? Honourable Lennox Linton has always told us that you cannot grow an economy on a platform of lies. Skerrit was constantly lying to Dominicans about how wonderfully well the country was doing.
SHAME ON YOU SKERRIT! In any real country, you would be kicked out of office!
Dominica is in Skerrit’s head. When I refer to the puppet lair on a string manipulated to tell his lies, some idiot lamented that I even call lawyer liar.
Who or what is a lawyer that me or anyone cannot call him/ her a liar when they are caught lying. They are only people who are not above any other human. But in Dominica; Dominicans revere such people because of their profession. It is time that Dominicans realize that people are just people.
The poor bare feet man in the streets, and the richest alive; when we all take all of our cloth off and stand in front of a mirror all we see is our nakedness. Epidermis over tissues attached to an exoskeleton (Bones).
I am happy that someone has seen Skerrit lie, based on the what we have read here. It is my conclusion that the economy of Dominica has not grown over the past fifteen years!
Skerrit and that so called lawyer if he is are both liars. And by the way the people who lie the most are lawyers!
How does this rhyme with mr. Skerrit’s projected growth rate of 5-7% per year as outlined in his budget presentation?
hmph…I cannot even fathom Dominica’s economy slowing down even more than it is now….at this rate all we need is to bury it in the cemetery.