Sun | Oct 21, 2018

Barbados economy showing signs of growth

Published:Tuesday | March 17, 2015 | 12:15 PM

The Barbados government says the economy is showing signs of growth and that the sacrifices made by nationals over the past months have not been in vain.

Delivering the 2015-16 estimates of expenditure and revenue in Parliament yesterday, Finance Minister Chris Sinckler, said the home grown fiscal adjustment and stabilisation programme has started to bear fruit.

Sinxkler said the economy recorded a growth of 0.3 per cent in 2014 and with projections for growth of between one and two per cent this year.

The finance minister further said at the end of the current financial year the primary balance will improve from negative $385 million to a surplus of $56 million.

He told legislators it would mean that for the first time since 2011, Barbados will be running a primary surplus and that the country is on its way to restoring its fiscal position.