A hemispheric body?has predicted a bleak economic outlook for Barbados in 2012 – even bleaker than that projected by the Central Bank.
While the Central Bank of Barbados’ last projection was that growth would be “not much better than one per cent”, the Economic Commission for Latin America and the Caribbean (ECLAC) says it should only be around half of that, and that fiscal measures now in effect will continue for a while.
That is contained in ECLAC’s recently released Preliminary Overview of the Economies of Latin America and the Caribbean 2011.
“Although Barbados showed a slight economic recovery in 2011, growth is expected to remain weak at 0.5 per cent in 2012, reflecting bleak prospects for growth in the United Kingdom and the United States, key source markets for tourism,” it said.
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