Mascoll: Reduced spending a sign

DESPITE RESUMED GROWTH in the economy, albeit a marginal 1.3 per cent in the first nine months of 2016, cautious Barbadians are spending less money this year than they did eight years ago.

“It seems unbelievable, but it is true that Barbadians are spending less money in 2016 than they did in 2008,” said Opposition advisor on the economy, Dr Clyde Mascoll.

“This is the greatest piece of evidence that can be used to show the failed nature of the Government’s management of the economy since 2008. At the household level, the lack of increases in wages and salaries; the decline in property values and the almost zero deposit rates have contributed to the reduced spending. (AB)

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