Bridgetown.
President of the Barbados Economic Society Ryan Straughn says he is bemused by the 2013 Estimates of Revenue and Expenditure.
According to Straughn, the Government is not willing to take advice and has failed to take the necessary measures to take Barbados on a growth path.
Pointing to what he predicts will be a historic decline in foreign reserves in the first quarter, Straughn says based on the position taken in the Estimates, it appeared to him that Government did not seem to fully understand what the problem was and was struggling to take the critical measures.
“It has become clear to me that the current Government has little or no interest in seeking economic advice", says Straughn.
"I am concerned not only about the state’s finances but our ability to manage our own affairs. Whether it is the International Monetary Fund (IMF), Caribbean Development Bank, Standard & Poor’s, Moody’s, local or regional economists, it doesn’t seem to matter, everyone is basically saying the same thing about this country’s finances, but yet there is no specific action being taken to remedy the situation", he added.
Straughn made the comments during a panel discussion hosted by the Opposition Barbados Labour Party St Michael West Institute last night.
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