The Caribbean Development Bank held its annual news conference today in Barbados where, Jason Cotton, the Acting Deputy Director of Economics noted that Caribbean economies recorded slower growth in 2025. Cotton noted that growth across the region decelerated last year. Here's how he put it:
Jason Cotton, Acting Deputy Director of Economics, CDB
"Excluding Guyana, regional growth decelerated to 0.6% from 1.4% in 2024 as several economies recorded weaker growth or contractions. Service exporting economies expanded more slowly as tourism momentum eased."
"Once again, climate shocks weighed heavily on performance. Hurricane Melissa struck Jamaica while it was still recovering from Hurricane, pushing the economy into a second consecutive year of contraction."
"Service exporting economies are anticipated to record modest growth, largely hinging on tourism and construction. Inflation dynamics in 2026 will be shaped by developments in global commodity markets."
"This year, beyond the shocks themselves, uncertainty has become more deeply entrenched. This reality makes regional cooperation not just desirable, but absolutely essential. In a more uncertain and fragmented world, vulnerability is magnified when countries act alone, but together we are more resilient."
