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‘Look out’ for more austerity


‘Look out’ for more austerity

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Barbadians should prepare to face more “austerity” as Government moves to implement the $174.6 million fiscal adjustment the Central Bank says is necessary over the next six months.

But even as it accepted that more belt tightening is likely, the Barbados Private Sector Association (BPSA) says there are more questions than answers resulting from Central Bank Governor Dr DeLisle Worrell’s third quarter economic review on Tuesday.

The BPSA’s leadership outlined their concerns yesterday during a Press conference at the shared headquarters of the Barbados Employers Confederation and Barbados Chamber of Commerce and Industry in Brittons Hill, St Michael.

Chairman Alex McDonald said while the jury was still out on whether Barbados should seek International Monetary Fund help, Barbados was in an extremely difficult position where “sagging confidence” had “resulted in an atmosphere of gloominess and uncertainty both in the private sector businesses and the population at large”.


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