A “balanced” budget.
That’s the response of Standard & Poor’s, the major Wall Street credit rating firm, following?Tuesday’s presentation by Minister of Finance Chris Sinckler.
“The Budget is balanced in a sense that it presents targets which are in line with the medium-term fiscal strategy,” said Olga Kalinina, director of S&P’s Sovereign Ratings Group. “It is cognizant of the need to adjust fiscally and it is looking at different ways of doing so.”
In an hour-long briefing session at its Water Street headquarters in Manhattan that was attended by Richard Francis, another S&P director, who also monitors Barbados’ economic performance, and by Pat Hoyos, prominent business writer of the Broad Street Journal and the Barbados Business Authority, Kalinina said Barbados’ fiscal problems were a fact of life and steps had to be taken to deal with them.
Read the full story in today’s SUNDAY SUN.
