Tweaking of fiscal targets
GOVERNMENT says it is on track and achieving its Medium Term Fiscal Strategy (MTFS) objectives, but is making a minor revision to its targets.
The MTFS sets out policies designed to achieve a balanced budget by 2016/2017.
Minister of Finance and Economic Affairs Chris Sinckler indicated Government’s position to the WEEKEND NATION recently after criticisms of the MTFS were levelled by the Opposition Barbados Labour Party.
He said growth in 2011 was fairly difficult despite Government’s prediction at the beginning of the year that there would have been growth of between two to two and a half per cent. But by the end of the third quarter of the year, he added, the world economy took a tremendous hit.
Full story in today’s WEEKEND NATION.