The harsh economic measures instituted by the Democratic Labour Party, including layoffs of between 2 500 and 2 800 Government workers so far, have been bearing fruit.
But, said Minister of Finance Chris Sinckler yesterday, the path to recovery would not be an overnight process and he couldn’t predict the next cycle of boom.
However, the measures being undertaken by the Government were to place the island in a position to profit from that boom, whenever it occurred.
“I believe that we are seeing results,” Sinckler said. “I believe we are going to continue to see results but it is not going to be an overnight thing because the structural impediments that we have in our economy did not occur overnight.
“This is 20, 30 years, almost a generation, so it’s going to take a little time to unravel them and to recompose them in the way that makes Barbados more competitive.”
