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"Barriers to finance remain for entrepreneurs and businesses”
CBCS expects growth to accelerate in Curaçao
WILLEMSTAD/PHILIPSBURG – In Curaçao, economic growth is projected to accelerate from 4.2% in 2023 to 5.4% in 2024, but slow to 3.2% in 2025, according to estimates of the Centrale Bank van Curaçao en Sint Maarten (CBCS) in its September 2024 Economic Bulletin. The forecast represents an upward revision of 0.5 percentage points from the June projection, induced by a stronger-than-initially projected performance of the tourism sector during the first half of the year coupled with robust activity growth in the construction sector. Growth in 2024 will be driven by both domestic and net foreign demand. Domestic demand will increase at a faster pace compared to 2023 because of gains in both private and public spending. Meanwhile, private investment growth is sustained by the ongoing construction projects in the tourism, utilities, real estate, and ship-repair industries.