The Slide of the Barbados Economy: Pictures Are Worth a Thousand Numbers

BU family member Inkwell has submitted the following graphs/information originally presented by economist Ryan Straughn in the local media in an article titled – Who Will Put the Genie Back in the Bottle?

Public Finances of the Grantley Adams administration from 1955 to 1962. Note that in every year, current revenue  exceeded current expenditure.

Public Finances of the Grantley Adams administration from 1955 to 1962. Note that in every year, current revenue exceeded current expenditure.

Public Finances of the Errol Barrow Administration. Note that there was a deficit on current account in only two of the fourteen years  and for relatively small amounts.

Public Finances of the Errol Barrow Administration. Note that there was a deficit on current account in only two of the fourteen years and for relatively small amounts.

Public Finances of the Adams/St John administration. Note that current revenue exceeded current expenditure in each year except 1977/78 and then for a nominal amount

Public Finances of the Adams/St John administration. Note that current revenue exceeded current expenditure in each year except 1977/78 and then for a nominal amount

Public Finances of the Barrow/Sandiford administration. Note that current expenditure exceeded current revenue in two years only and for relatively small amounts

Public Finances of the Barrow/Sandiford administration. Note that current expenditure exceeded current revenue in two years only and for relatively small amounts

Public Finances of the Arthur adminintratioin. Note that current revenue exceeded current expenditure in each of its fourteen years.

Public Finances of the Arthur administration. Note that current revenue exceeded current expenditure in each of its fourteen years.

Then along comes the Thompson/Stuart administration and this is what happens

Then along comes the Thompson/Stuart administration and this is what happens

2008/2009. The government spends $256 million more than it receives in revenue.
2009/2010. The government spends $557 million more than it receives in revenue.
2010/2011. The government spends $647 million more than it receives in revenue.
2011/2012. The government spends $284 million more than it receives in revenue.
2012/2013. The government spends $260 million more than it receives in revenue.

That is a total deficit of $2.004 billion, excluding the appropriation of $100 million of NIS funds. The facts speak for themselves. What would you say about any housewife who kept overspending her income by massive amounts. What would such spending do to the family’s bank account, provided it had a banker stupid enough to let her continue to do it.
Can this be considered prudent management of the country’s finances?
Can we continue to blame the world recession for Barbados’ financial woes? Or put the blame on the profligate spending of the Government.

Also note. Maximum revenue of the Arthur administration was $2.3billion in 2007/2008
Revenue of the DLP administration as per graph was as follows:
2008/2009 – $2.6 billion approx
2009/2010 – $2.3 billion approx
2010/2011 – $2.3 billion approx
2011/2012 – $2.5 billion
2012/2013 – $1.8 billion approx

Ask yourself. Where was the money spent and was it spent wisely? Clearly it was not spent on capital works, as the graphs show.

Now that revenue has fallen dramatically, despite desperate tax grabs, the government recognizes (or somebody has told it) that the spending spree has to come to an end. 2012/2013 expenditure shows considerable contraction, but more cuts must be made as revenue continues to plummet. The pigs at the trough are being brought to a fine market.

128 thoughts on “The Slide of the Barbados Economy: Pictures Are Worth a Thousand Numbers


  1. @ Irene Sandiford-Garner | September 16, 2013 at 9:35 AM |
    “Minister Boyce responded to Straughan last night via a query of mine. And I am so glad he did. All of you were invited but it is far easier to sit behind a screen and anonymity and curse.”

    Mrs. ISG, could you tell the BU family (if not the extended family, then David) how much does it really cost to run the QEH at a reasonably efficient and effective level of performance? As you know public health and patient care are non-negotiable social services. An unhealthy nation is a sick nation both physically and mentally..

    We ask you this question because we know at one time you were the understudy to the MoH with special responsibility for the QEH and its possible replacement.
    Is it reasonable to assume the QEH requires approx. $200 million as confirmed by your former straw boss Inniss or is it more in the region of $ 110-120 million as its expenditure budget covered by transfers from central government is to be cut this financial year from $145 million minus $35 million leaving $110 million or thereabout?
    However we don’t expect an answer to this pertinent concern of the people but only about BMW’s and RR’s and MB’s.


  2. When ye Hon Senator deigns to respond perhaps she can say now that Marva has retired,in whose carrying bag is reposed the Last Will and Testament of the Dead King of St John.Ye Will has been probated and as a Public figure,the public should know the value of that crooked man’s estate and who is benefitting from taxpayers monies therein detailed,and why Students of the UWI must be penalised at the expense of the Dead Kings’Estate Real and Personal funded by the taxed of the Realm.


  3. Do yall really expect someone who likes to boast and pretend, tongue in cheek or not, to answer questions that need honest answers?? You would be better off asking the IMF officials, S&P or Moody’s, you are more likely to get an honest answer, even with all their warts


  4. Beatrice Henry died December 13th 1985 age 93 .. look at the chart
    Violet Beckles died October 23rd 2019 age 92 look at the chart
    look at all charts on BU and see magic
    Summary of Government Operations (BDS$ Millions)
    look at after most taxes were paid line 4 Property taxes 2011,,,
    Before the death of Violet Beckles and after the dates 5.0 Million and 5.8 million before that was 150.8 million and 118.2 Million , So no one can save them crooks now,,, Sir Ham did his part by letting everyone in the game know he got the PLANTATION DEEDS,,, NOW HE DONT HAVE THE SAME PULL BUT WE LOOKING AT THE PULL DOWN.
    People lie , words lie , NUMBERS dont lie. Unless they are DLP/blp numbers and words.
    Just this line 4 alone will have a chain reaction . When i hear the word COLLEAGUE , THE SHOW WITH THE DOG COMEs TO MIND.
    Seems a lot of people call them self that name in the House and the Lawyers of Barbados.
    Clear titles or clear out.
    We have the fix to all things , dont be distracted with long talking of the 2 crook Parties.Do the Math People


  5. Wrong date is to read Violet Beckles August 23rd 2010 and not 2019
    David PM October 23rd 2010


  6. We see the PM of Barbados now buying votes with CARS,VOTE BUYING TO BLOCK THE OTHER CROOK MIA LOLOLOL
    LOVE TO SEE WHO FLIPPING THE BILL, MUST BE UWI?
    QEH, UDC, VAT MASTERS,WE BET THAT 2% VAT PAID FOR THE CARS ,, NEXT YEAR THEY WILL GET NICE BOAT OR SHIPS,WHAT ABOUT A PLANE ? REDJET LOLOL ,ARE THEY ARMOR PLATED?


    • They (the cars) are not armour plated. Yet. Each of us has to first ascertain how much of the line item “transfers to individuals” is deposited to our personal accounts and that wll determine the type of kit we can afford.


  7. No less than 60,000 usd , it may add another 600 to 1000 pounds to the cars, which will then need turbo or super chargers to maintain the power and speed of the cars.
    Underwear will cost up to 6000 us they have some new stuff out now.
    what is the plan for bird shit? cut all the tress down lolololol

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