Prime Minister Gaston Browne has stated that Antigua & Barbuda is not as dependent on its Citizenship by Investment (CIP) program as some other Caribbean nations, where such programs contribute up to 40% of government revenues.
Speaking on Pointe FM, Browne noted that while the program generates revenue, it represents only a small portion of the country’s overall earnings.
“Of the approximately $2 billion spent last year, only about $80 million came from the CIP,” he said.
He emphasized that Antigua & Barbuda maintains a more diversified economy, reducing its vulnerability to external policy changes that could affect the CIP.
“Some of our neighbors have structured their economies in a way that makes them far more reliant on CIP. That is not the case for Antigua & Barbuda,” he explained.
The Prime Minister’s comments come amid ongoing discussions within the Eastern Caribbean Central Bank (ECCB) about financial stability and economic resilience in the region.
He reiterated that while Antigua & Barbuda welcomes additional revenue from the CIP, his administration does not intend to make it a central pillar of government financing.
Browne also pointed to continued economic growth driven by tourism, investment projects, and financial services, ensuring a stable foundation beyond the CIP program.
