‘No surprise’ to business sector
CONCERNED BUT NOT SURPRISED.
This sums up the response of members of the business sector to the Central Bank of Barbados’ half-year report, which showed that the economy contracted by 0.6 per cent in the first six months while foreign reserves fell to 16 weeks of import cover.
According to chairman of the Barbados Private Sector Association (BPSA), John Williams, and president of the Barbados Chamber of Commerce and Industry, Lalu Vaswani, Tuesday’s sobering review was a reflection of what their members had been experiencing.
“What we’re seeing right now is just a reflection in the official statistics of what we’ve been hearing and feeling in the business community,” Williams said.
Despite this, Vaswani said the bank’s report had “a great impact when you see it in black and white”. .(NB)