The National Insurance Scheme (NIS) is under pressure, with close to 43 000 unemployment claims filed to date as a result of the COVID-19 pandemic.
The disclosure was made by Minister in the Ministry of Finance Ryan Straughn, who told the House of Assembly yesterday it was critical to get most of the unemployed Barbadians back to work.
He maintained that the run on the NIS funds was not sustainable.
Introducing the Catastrophe (Amendment) Bill 2020, Straughn said the health crisis had caused major disruption of businesses, resulting in about a third of Barbados’ approximately 145 000-strong workforce being out of work. (GC)
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