IT IS STILL TOO early to say the Barbados economy is in “recovery mode”.
That was the view of former Barbados Economic Society (BES) president Dr Winston Moore, who said while this year was “definitely an improvement over last year”, to suggest the country was in full recovery mode would be an overstatement because the improvements were concentrated only in a few industries.
“To make a dent on unemployment, growth and public sector debt, more broad-based growth across the economy will be needed,” he said.
Moore, who is head and senior economics lecturer in the Department of Economics, Cave Hill Campus of the University of the West Indies, identified debt as one of major challenges for the island.
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