May 2016 Financial News

Tourism rescue (Barbados)

May 11, 2016

A “STRONG” WINTER TOURIST SEASON appears to have spared Barbados’ economic stewards another period of embarrassment.

However, Barbadians should brace for more measures that are required to fill the “gap” in the Government’s finances.

In a report that was delivered later than usual, and on the same day of an Opposition no-confidence motion against the Government, Central Bank Governor Dr DeLisle Worrell reported yesterday that the economy “expanded by an estimated 1.7 per cent during the first quarter of 2016”.

Worrell is also predicting that the economy will grow by 1.6 per cent overall this year, an outcome predicated “mainly because of tourism and ancillary activity”.

He also said the additional fiscal measures were expected “shortly” in the Financial Statement and Budgetary Proposals to be delivered by Minister of Finance Chris Sinckler. (AC)

Source:
ANTOINETTE CONNELL
antoinetteconnell@nationnews.com
Nation News
Wednesday May 11, 2016

http://www.nationnews.com/nationnews/news/81105/tourism-rescue