Having contracted by 0.7 per cent during the traditionally buoyant first quarter, the economy may now be headed into recession.
Another issue of concern to Barbadians is whether given the changing circumstances the Central Bank might revise its economic outlook for the remainder of this year and 2019.
The answers to these and other questions will be known on Thursday when the Central Bank releases its economic review for the first six months.
With Central Bank Governor Cleviston Haynes due to report for the period ended June 30, it will be too soon for there to be any impact from the June 11 Mini-Budget delivered by the Prime Minister. This is especially since several of the measures were only recently implemented, others are to start shortly, with the remainder yet to come.
However, the Governor will be able to shed some light on what effect these measures, and those likely to be introduced in the future, are likely to have on Barbados’ economic fortunes. (SC)
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