Mascoll: Deficit over $700m
THE $143 MILLION which Government expects to save by laying off more than 3 000 workers is less than a quarter of what’s needed to stabilize the Barbados economy, says economist Dr Clyde Mascoll.
Noting that amount of savings was projected by the Minister of Finance when he announced public sector cuts last month, Mascoll said that figure made no sense because it would mean that the average public worker being sent home was earning $4 700.
“I know that the average public sector worker does not earn anywhere close to $4 800 per month. Therefore, again, the truth is not really being told in relation to the extent of the adjustment that has to be made.
“ . . . . $143 million is less than a quarter of what is required to get us out of this dark hole. Barbados is in its darkest hour,” said the Opposition’s economic adviser.