THERE’S NOTHING WRONG with deficit financing, says Dr Leroy McClean.
The former head of the Barbados Investment and Development Corporation said if Barbados is to climb out of its economic hole, that just may be the route it has to go.
His comments came as he spoke on the topic Trying to Succeed in a Failed System at a Democratic Labour Party (DLP) lunchtime lecture at the party’s headquarters in George Street, St Michael.
“We keep hearing that we’re setting a target of ‘X’ per cent of GDP for a deficit. But what is magical about any of these numbers?” McClean queried.
“The deficit that a country should carry should be determined by what it is used for. (AD)
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