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10.1% growth largely due to resurgent tourism sector

October 26th, 2022

The Barbados economy has registered double digit growth for the first nine months of this year.

That’s according to Central Bank Governor Cleviston Haynes, who made the revelation while delivering the Bank’s third quarter economic review.

He says the resurgent tourism sector has been largely responsible for the growth of 10.1%.

However he also says the economy is not yet producing at pre-pandemic levels, but tourism is expected to sustain its rebound for the remainder of this year.

The Bank also recorded double digit growth in its half year review and he says that trend is expected to continue until year-end.

Governor Haynes says that continued recovery will be based on a further upturn in the global tourism sector, coupled with the implementation of large public and private construction projects.

He also says Barbadians could start to see reduced prices for some goods going into next year, based on global trends.

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