Barbados’ economy must grow “substantially” in the first quarter of this year to achieve growth of two per cent overall.
Governor of the Central Bank of Barbados Dr Delisle Worrell made this point today during a Press conference to discuss the country’s economic performance.
Worrell said many industries “depend on the receipts that we get in the first quarter to tide them over some of the troughs that are going to come later on in the year.”
“Our growth is going to depend most heavily on tourism because that is about two-thirds of our foreign exchange earnings but we also have a considerable presence in the international business and financial services sector,” the governor said.
“Between the two of those sectors we are talking about 80-85 per cent of our foreign exchange earnings,” he stated.
Worrell noted that he was looking to the international business sector for a major contribution to the revival of the economy. “