BARBADOS NOW HAS the highest ratio of debt to gross domestic product (GDP) in the Caribbean.
But director of economics at the Caribbean Development Bank Dr Justin Ram believes it is a problem that can be corrected if Government takes the “right policy steps”.
The economist disclosed that Barbados was spending only 2.3 per cent of GDP (total economic output) while the implementation rate was 33 per cent. As such, he said, a lot of projects were not “finding their way to completion”, resulting in an “implementation deficit” which he noted was also the case in other Caribbean countries.
Ram said, “In the Caribbean, we spend too much time on planning and thinking and not enough on implementation.” (GC)
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