Haiti has got something to celebrate for a change.
According to figures in the World Economic Outlook report, recently released by the International Monetary Fund (IMF), the country’s economy is expected to grow by 7.8 percent in 2012. That number is the highest projected growth of any country in the Caribbean region and represents an increase on 2011 when its gross domestic product (GDP) reportedly grew by 5.6 percent. Analysts have sounded a cautionary note, however, pointing out that these numbers are only so high because the economy is rebuilding after the destruction caused by the January 2010 earthquake.
Although its figures are not as dramatic as Haiti’s, Suriname comes a strong second with its GDP forecast to increase by 4.9 percent. The Dominican Republic is expected to experience growth of 4.5 percent.
The IMF has forecast growth in the region at 3.75 percent in 2012, rising to 4 percent in 2013. While it found that the outlook was “promising”, it warned: “High public debt and weak tourism and remittance flows continue to constrain the outlook for the Caribbean.”