Sunday, April 14, 2024

Warning system going online

Date:

Share post:

An economic crisis shouldn’t catch authorities napping in future, thanks to a new warning system.
Minister of Economic Affairs Dr David Estwick made this point Tuesday at the Lloyd Erskine Sandiford Centre as he launched the national Economic Early Warning System.
The system, which will eventually be accessible online to the public, is a product of the Ministry of Economic Affairs, with inputs from a number of outside experts, including the University of the West Indies’ (UWI) lecturers Professor Roland Craigwell and Dr Winston Moore.
Estwick said Government would use historical data, as well as the many current streams of information on various elements of the economy, to make predictions about where the economy was heading.
The predictions would also determine the actions Government would take to achieve the desired economic growth, he told a gathering that included some of the island’s top economists.
Estwick said the effectiveness of the system would depend on factors that included the speedy provision of information from both Government agencies and the private sector.
Underscoring the need for Bajans to do things more quickly, he said the timely implementation of legislation or regulations to deal with economic problems and the utilisation of corrective measure were important for the early warning system to be effective. (TY)

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related articles

New route gets thumbs-up

Some bandleaders have given the new route for this year’s Grand Kadooment parade a passing grade. The new route was announced...

US shoots down Iranian drones bound for Israel

The US has shot down Iranian drones headed to Israel after Iran launched its retaliatory attack early on...

Iran launches retaliatory strikes toward Israel

Iran has launched a wave of retaliatory strikes toward Israel, fueling fears of regional escalation following an apparent Israeli attack...

T20 World Cup trophy in Barbados

The countdown to the start of the 2024 the ICC Men’s T20 Cricket World Cup continues. Today marks 50...