Barbados Financial Woes

The under performance of the economy of Barbados has posed questions about the country’s overall growth prospects.

The geographical beauty of Barbados is underpinned by a relatively in-corrupt and politically stable government. Despite this, however, the country’s economy has under performed in recent years. Indeed, the 2008 financial crisis took its toll on the island nation, with the economy contracting by 4% in 2009. Since then, the economy has not grown at the expected 2.5% annual GDP growth rate and has even struggled to reach 1% GDP growth.

Its heavy reliance on the tourism sector has meant that there are calls from within the country for the government and its people to shift focus from tourism to other means of economic growth such as manufacturing, innovation, the embracement of technology, retail and investment in local businesses in order to avoid continued under performance

CaribNation examines the financial outlook.and potential fixes to the Barbadian Economy.

Видео Barbados Financial Woes канала CaribNation TV