GOVERNMENT’S HANDLING of the economy came in for harsh criticism from Opposition Senator Dr Jerome Walcott when the Senate debated the Appropriation Bill 2017-2018 yesterday.
He took what is otherwise referred to as the Estimates apart. Going through section by section, he accused Government of over-spending on several projects, which he suggested served to increase the national debt and placed Barbados in a position where it had just experienced its lowest downgrade ever by a rating agency.
Walcott charged the economy was “now in the most precarious position since we became an independent nation”.
He added that the island’s foreign reserves were less than half what they were in 2009, the national debt had almost doubled what it was then, and the economy was smaller. (GC)
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