External Affairs Minister Alva Baptiste has defended the government’s economic record in the face of opposition criticism over a projected downturn, arguing that single-year figures should not define the country’s fiscal performance.
Speaking during the Appropriations Bill debate, Baptiste pointed to a preliminary estimate from the statistics department indicating a contraction of 0.6 per cent for the current year. He cautioned, however, against drawing firm conclusions from early data.
“It is important to emphasize that this figure remains preliminary and subject to revision,” he said.
The Minister urged that the estimate be viewed within the context of recent economic gains.
“It must be considered within the broader context of the economy’s strong performance between 2021 and 2024,” Baptiste noted, adding that the country experienced “sustained growth with cumulative expansion of approximately 30 per cent” over that period.
He further explained that year-on-year comparisons can be influenced by unusually strong preceding performances.
“Given that 2024 was a record-breaking year, a modest decline relative to that high base remains a credible outcome,” he said.
Baptiste also highlighted the historical tendency for initial growth figures to be revised as more comprehensive data becomes available. Citing official reviews, he noted that the 2023 growth estimate was first reported at 2.2 per cent before being revised upward to 3.9 per cent.
“I highlight these examples… to underscore the point that preliminary growth estimates are not final and are routinely revised,” he stated.
At the same time, the Minister acknowledged the need to address structural challenges to sustain momentum.
“This clearly underscores the need to address these constraints to sustain future growth,” he said, pointing to policy measures advanced by the Prime Minister and Minister for Finance.
Baptiste’s remarks position the current economic outlook within a broader developmental trajectory, as the government seeks to balance short-term fluctuations with longer-term growth objectives.