Barbados Doing Well Despite the Recession

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Parliamentary Secretary in the Ministry of Finance and Economic Affairs, Senator Jepter Ince, addressing the audience at the 6th Lecture Seminar Series at the Warrens Office Complex. (C.Pitt/BGIS)??

Although there are some encouraging signs of recovery, Parliamentary Secretary in the Ministry of Finance and Economic Affairs, Senator Jepter Ince, said government would be continuing its conservative fiscal position as outlined in its Medium-Term Fiscal Strategy 2010-2014.

He made this disclosure recently while addressing the Economic Affairs Division’s?? 6th Lecture Seminar Series on the theme Managing Current Challenges While Pursuing Growth.?? It was held at the Warrens Office Complex, St. Michael.

He added: "It must be noted that for 2011/2012, the economy recorded a better fiscal improvement than its original baseline scenario deficit of 5.6 per cent.?? The Government of Barbados is of the view that it is critical to continue dialogue with the public and private sectors, especially when our country is at a stage of recovery from the global double dip recession, that continues to plague the development efforts of countries worldwide…"?? ????

Senator Ince credited the Economic Affairs Division for organising the forum and suggested that the voluntary participation in the exercise highlighted the importance of government’s investment in education and the need to speak out on pertinent issues.

"…We should remember that 129, 000 Barbadians are working; 45,000 boys and girls are at school; the hospital is open; and people who cannot afford health care are being cared for.?? Some of the poor and indigent have just left one of the social agencies that offer assistance to improve their daily living.?? Moreover, infants as well as the elderly [in this country] are receiving care and the business community remained financially viable," he surmised.

The Parliamentary Secretary reminded the audience that the fabric of the Barbadian society represented much more than a "balance sheet indicating the level of gross domestic product" but would "always remains a feature of the style of governance of this administration to protect the social framework while encouraging growth".

julie.carrington@barbados.gov.bb

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