Government’s Senior Economic Advisor, Dr. Kevin Greenidge, remains optimistic about Barbados’ economic outlook going forward.
This, despite the International Monetary Fund’s revised global outlook which is now anticipating slower growth than originally forecast due to increasing risks.
Dr. Greenidge says the report simply emphasises the need to stick to the plan to grow the economy.
He suggests tourism will be key to recovery.
Dr. Greenidge says the projections for economic growth remain more or less the same, as high import costs, including those for oil had already been factored in.
He notes Barbados will need to continue focusing on its borrowing strategy, as interest rates continue to climb, effectively increasing the cost of borrowing.
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