Tuesday, April 23, 2024

On Track!


Share post:

In spite of the challenges posed by the COVID-19 pandemic, the ash fall from La Soufriere in St Vincent and disruption to the supply chain, not only did Barbados continue to provide social services, the economy also remained on track for growth.

In a Ministerial Statement yesterday in the House of Assembly, Minister in the Ministry of Finance and Economic Affairs, Ryan Straughn, also said the level of debt was manageable.

“While conditions on the international market remain turbulent, prospects for the upcoming tourist winter season remain strong and the sector is expected to contribute to growth going into 2023. Outside of the tourist sector increase, domestic demand has also stimulated economic growth in the wholesale, retail business and other services sector. Manufacturing has also benefited from heightened domestic activity and increased exports to the region,” he said during the April to September 2022 review.

“The increase in costs and quantity of imports, along with the downward revaluation of the investment portfolio due to rising interest rates, has placed additional pressure on international reserves,” he added. (Nation News)


Please enter your comment!
Please enter your name here

Related articles

Sunil Narine rules out West Indies comeback for T20 World Cup

Sunil Narine has ruled himself out of a recall to West Indies' squad for the forthcoming T20 World Cup...

Taiwan rattled by 6.1 magnitude earthquake amid numerous tremors

Taiwan was hit with a magnitude 6.1 earthquake in the early hours of Tuesday local time (2:32 p.m....

Trump hush money trial was ‘election fraud pure and simple’, prosecutors say

Donald Trump “orchestrated a criminal scheme to corrupt the 2016 presidential election” by covering up an alleged affair...

Nicki Minaj throws item back into crowd after nearly getting hit by object onstage

Nicki Minaj was left unimpressed after a fan threw an object at her onstage. In a video shared by Pop Crave on...