The measures announced by Minister of Finance Chris Sinckler in Tuesday’s Budget will have a “very minimal impact”, if any, on Barbados’s fiscal situation, says economist Dr Brian Francis.
The University of the West Indies, Cave Hill Campus lecturer was speaking during yesterday’s post-Budget breakfast discussion hosted by the Barbados Chamber of Commerce & Industry and PricewaterhouseCooper at Hilton Barbados.
Francis said that Barbados did not have a revenue problem and noted that the focus on income “is a huge mistake that is going to hurt the economy very badly in the long run”.
“The problem that we have relates to the fact that the fiscal crisis that we face is structural in nature, with most of the problems arising on the current side.
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