Sunday, April 21, 2024

Brace for pain

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With the Russian invasion of Ukraine heading into its fifth week, Prime Minister Mia Amor Mottley is cautioning that the war is at the stage where Barbados and the wider region can expect to feel the full brunt of the spin-off effects of the conflict.

She is advising Bajans to brace for the worst.

In recent weeks economic pundits and the business sector have warned the country to expect more hikes in energy and general cost of living, the extent of which depended on how long the war would last.

Head of the Barbados Chamber of Commerce and Industry, Anthony Branker yesterday concurred with the Government leader, noting tough times could last deep into the year or even early next year.

He said the five-week period marked the time frame that the laws of supply and demand would begin to affect how commodities trade, and explained this was likely to have an impact on raw materials such as corn, barley, sunflower and wheat, of which Ukraine, Belarus and Russia account for a significant portion of the world’s supply. (CLM)

 

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