Haiti to Post Caribbean's Fastest Growth in 2013

The past few years have been very promising for the island country of Haiti, despite the 7.0 magnitude earthquake that occurred about three years ago. It is actually one of the fastest growing economies in the region, thanks to the recent efforts of the Haitian government and the international community.

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In a recent report published by the United Nation's Economic Commission for Latin America and the Caribbean (ECLAC), Haiti will be the leading and fastest-growing economy in the Caribbean in terms of GDP growth which is projected to increase by 6% by the year 2013. It was also supposed to be at the number one spot for 2012 with an initial estimate of 6% growth earlier in the year, but was decreased to a 2.5% growth by the ECLAC, as well as the International Monetary Fund (IMF), due to the bad effects of the major storms that hit the country this past year. Back in 2011, Haiti's GDP grew by 5.6%.

Jamaica is projected to have the slowest economic growth next year, with a mere 0.1%. This is an improvement as compared to this year's -0.2% growth. Guyana, Suriname, and Cuba fall second, third, and fourth place respectively to Haiti in the ECLAC's projection with 4.9%, 4.7%, and 3.5%.

The ECLAC generally estimated an increased growth for the Caribbean region as a whole in its surrounding areas for 2013, since the region has already shown positive economic growth in 2011 and 2012. The remaining challenges and hindrances for the countries involved are investment growth, technical progress, and a sustainable economy.

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Read more: economy, Cuba, jamaica, business, Caribbean, Growth, GDP, Guyana, Suriname, Business & Finance

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