Friday, March 29, 2024

Falling short

Date:

Share post:

GOVERNMENT IS HAVING a hard time meeting its fiscal targets despite an increased value added tax (VAT) rate and restraint in discretional spending.
The Central Bank of Barbados, in its six-month economic review released yesterday, said that business profitability had not yet recovered and corporate tax receipts had fallen short of expectations.
The report, which drew immediate reactions from both Minister of Finance Chris Sinckler an Opposition Leader Owen Arthur, also estimated the country’s fiscal deficit at 8.7 per cent of gross domestic product (GDP) compared with 8.9 per cent in the previous fiscal year.
 In the first two months of fiscal year 2011-2012, the Central Bank said the deficit dropped from 5.9 per cent in April and May 2010 to 4.1 per cent. (NB)
 
Full story in today’s MIDWEEK NATION.
 

Previous article
Next article

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related articles

No decision yet on Lester Vaughan School

A firm decision has not yet been made regarding when the Lester Vaughan School will be reopened. Following a...

BDF to conduct simulation exercise on April 2 & 3

The Barbados Defence Force (BDF) will conduct a Mass Casualty Simulation Exercise from Tuesday, April 2, to Wednesday,...

Barbadians reminded to file taxes online as filing season starts

The Barbados Revenue Authority (the BRA) is advising that tax filing season for 2023 begins on April 1 this...

Minister Abrahams’ statement on Ismail Patel’s passing

Below is the full statement by Minister of Home Affairs and Information, Wilfred Abrahams: I was saddened to...