|Minister of Finance and Economic Affairs, Chris Sinckler,??delivering the feature address at the 185th anniversary luncheon of the Barbados Chamber of Commerce and Industry. (C. Pitt/BGIS)|
Government’s programme for the recovery of the Barbados economy is working.
This was underlined by Minister of Finance and Economic Affairs, Chris Sinckler, as he delivered the feature address at the 185th anniversary luncheon of the Barbados Chamber of Commerce and Industry today. It was held at the Lloyd Erskine Sandiford Centre.
However, he asked the country to stay focused and "to stick to the programme". Mr. Sinckler said his administration intended to restore some measure of fiscal discipline to the public accounts "in the short to medium term; to reduce public sector debt levels to more acceptable and manageable levels; to maintain employment wherever possible and to restore growth to the economy in the fastest possible time behind the resurgence in our main economic sectors."
Consequently, he called on the private sector to be the champions of commerce and industry and to work with government to "underwrite a new period of economic expansion in the country.
"Now is not the time for the faint-hearted, or weak-kneed, for half-measures or the wait and see game. A significant part of the success we achieve in emerging successfully from this recessionary period will be dependent not just on the resurgence of the global economy, even though that will play a large role, but the recovery must be underwritten by us in Barbados," he charged.
The Economic Affairs Minister maintained that foreign investment had to be matched by an "equally aggressive domestic investment platform". Moreover, he added "joint partnerships between government and the private sector must become a structured feature of the economic landscape, even as government seeks to reform itself as a key driver of the process of innovation and investment."
He also told the gathering of private sector officials that this country had done well as a small developing nation, with Barbadians displaying a level of maturity and a sense of humility as they faced challenges with commitment and dedication to making life better for every single Barbadian.??