(Barbados Nation) Government’s fiscal deficit is still too high and this means Barbadians will have to tighten their belts some more.
There is also a need to introduce measures to “dampen demand” for foreign exchange, thereby ensuring a healthy amount of international reserves are in hand.
Acting Central Bank Governor Cleviston Haynes said such policies were necessary, even as he reported that the economy grew by two per cent in the first quarter.
Speaking at the first Central Bank press conference on the economy since July 2014, Haynes said reducing the fiscal deficit and shoring up the foreign reserves were the key things Barbados had to focus on now.
