Wednesday, April 24, 2024

Don’t delay

Date:

Share post:

THE VALUE OF BARBADOS’ currency could be taking a plunge soon unless Government moves speedily to slash the deficit between its revenue and expenditure.
Charlie Skeete, a retired senior economist at the Inter-American Development Bank in Washington, has issued this warning.
With the fiscal deficit at 9.4 per cent of the gross domestic product (GDP) between April and June this year, Barbados would be unable to defend its current exchange rate unless corrective action was taken now, he said.
The former Barbados Ambassador in Washington told the DAILY NATION: “That is an untenable fiscal deficit for a small open economy. It is not sustainable. Something has to be done, seriously.

Previous article
Next article

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related articles

Broad Street to be paved over Heroes weekend

The Ministry of Transport and Works, through its contractor Infra Construction Inc., will mill and pave Lower Broad...

Death rates up

Barbados’ population is officially in decline as the number of people dying each year surpasses those being born. That...

CDB boss steps down with ‘immediate effect’

BRIDGETOWN – President of the Barbados-based Caribbean Development Bank (CDB), Dr Hyginus ‘Gene’ Leon, has resigned with “immediate...

St Michael man remanded on 14 charges

A 23-year-old St Michael man was remanded to Dodds Prison after appearing in court to answer 14 charges. Raheem...