ECONOMIC ADVISER to the Opposition, Dr Clyde Mascoll, says the International Monetary Fund’s view that the Barbados economy appears to have turned a corner does not mean recovery “but rather the beginning of a tough uphill climb”.
“This connotes images of the economy being at a roundabout, in which case, the turning is a matter of degree,” Mascoll told the SUNDAY SUN yesterday.
Following its May 9-19 Article IV Consultation, the IMF staff based its view, essentially, on real GDP having grown by 0.8 per cent in 2015, underpinned by a surge in tourism arrivals, relative to 0.2 per cent in 2014 and an average of -0.3 per cent in 2008-14.
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