THE BARBADOS ECONOMY has “hit bottom” and should start to “recover” from next year, a leading banker is predicting.
And CIBC FirstCaribbean International Bank chief executive officer Rik Parkhill said the bank was prepared to help lead the resurgence here and in the region by investing millions of dollars in infrastructure, renewable energy projects and the hotel and hospitality sector.
Parkhill also told the DAILY NATION in an interview yesterday it was the private sector that would lead Barbados and the wider region out of recession and this – not lending to Government – was “the bigger opportunity”.
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“The private sector uptick in terms of investment, it’s certainly present in Barbados so I think economic activity generally will increase in Barbados. The magnitude of the increase I think is still a question mark, but we see certainly increased demand from the corporate sector for financing on specific projects.
