Barbados' economy shows steady progress

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According to CANA, the Barbados economy registered “steady progress” during the first half of this year with the island’s central bank predicting that the outlook “has become more favourable over the past 12 months.

Central Bank Governor Cleviston Haynes, told reporters Friday that the economy was showing progress as the Mai Mottley government continued to implement its recovery and transformation programme.

He said the programme is focused on rebuilding reserves, strengthening the public finances, reduce [public sector indebtedness, maintain financial stability and create an environment for the resumption of sustainable economic growth.

He said the government hopes to achieve such success through fiscal consolidation, debt restructuring and structural reforms.

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