Barbados economy on the rebound, says PM

TIMES INT'L

By Cathy Lashley

Bridgetown, Barbados: (BGIS) — Figures for 2010 show the Barbados economy has stopped contracting, and there was evidence of modest advancement, reinforced by a 2.8 per cent growth in the first three months of this fiscal year.

Now is the time for all citizens and businesses to be recommitted to the sustainable development of Barbados, “as a just and thriving society”, emphasised Prime Minister Freundel Stuart on Wednesday, May 11, as he delivered the feature address at the 51st Annual General Meeting and Luncheon of the Barbados Employers’ Confederation (BEC). Stuart said if this country was to function as “a well-oiled, appropriately and highly competitive economy”, employers had to find ways of creating wealth and distributing it fairly “in order to satisfy the needs of our people.” Stuart added that other indices, such as the provision of enough foreign exchange to cover 20 weeks of imports, the slender reduction in unemployment to 10.5 per cent, and the slight improvement in the fiscal deficit by Bdos$90 million, offered “a glimmer of hope for the country’s continued performance.” (Excepted from Caribbean News Now!)

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