Bajans living above means

(Barbados Nation) Bajans, both the Government and consumers, are living above their means and therefore must put the brakes on their spending habits.

That’s a key message which two prominent economists, Sir Courtney Blackman and Charlie Skeete, contend the Barbados Central Bank’s second quarterly report is sending.

Using almost identical language in separate interviews, Sir Courtney, the Central Bank’s first governor, and Skeete, a retired senior economic adviser at the Inter-American Development Bank in Washington, said that decisive action was needed by the Government and people to cut spending, eliminate wastage and heighten efficiency in the public sector. As a first step both urged the Stuart government to impose a wage freeze simply because the island’s finances couldn’t absorb another hike in public sector salaries and wages.

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