Government has been able to stabilize the fiscal situation which it inherited more than three years ago, Minister of Sport, Family and Youth Affairs, Stephen Lashley has claimed.
Speaking in the House of Assembly during the Estimates of Revenue and Expenditure yesterday, Lashley said it was now clear Government’s Medium Term Fiscal Strategy had been the right move, and continues to keep the Barbados economy in a position to achieve growth.
“We successfully defended the exchange rate. We made sure foreign reserves were up to the internationally required standard. We have not been forced to borrow money to shore up our reserve, and we’ve done it with our own resources. That’s phenomenal,” Lashley told the Lower Chamber Chamber, before congratulating Minister of Finance, Chris Sinckler for his four-hour presentation on Monday.
Lashley, the MP for Christ Church West Central, said it was even more amazing that the Democratic Labour Party, because of the medium term fiscal strategy, would lower the country’s fiscal deficit sooner than later. (BA)
