Barbados Economic Performance for Quarter 1, 2015
Text – Analysis of Barbados’ Current Economic Performance
Audio – Analysis of Barbados’ Current Economic Performance
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Text – Analysis of Barbados’ Current Economic Performance
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stupse
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That is what Barbados has come to?
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All hail the Lord Chancellor of the Exchequer. If I were an economist I’d be ashamed for him… Corruption!!!
Why would a GG of Barbados get dragged into any kind of discussion on political matters especially those that might be contentious? And why would he even suggest his job is safe? Corruption!!!
What really happening with this case the Republican Barbados Police Force supposed to be investigating? A man shoots a anpother man and isn’t helping police with their investigations… He is sitting at a desk while driving through the Port (presumably on private business). I hope if I check to see if he signed in and had temporary ID like the rest of us, I would see that recorded. Corruption.
And so if you are a corrupt police officer or a convicted felon, you could pay 500 bucks and another equally corrupt officer would make sure you get your police certificate of character. Who is guarding the Guards again? Mr. AG this is when you step up and say something!!! Corruption!!!
We are in a very very bad place as a country.
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I so want to believe this liar but find it hard to do so.
Last year someone in the know told me that when the true figures were presented to the governor, he told the persons….do you expect me to go to the public with these figures? Bring me figures with which I can work. So as much as I am hoping that these are true figures, doubts linger.
One thing I know, if he only realised 1% growth in the first quarter, there is little chance of him getting any 2% growth for the rest of the year! Maybe with his brand of economics, it may yet happen! Good luck, governor!
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cud dear,,,,wunna sound so pathetic,,,,so much so that ugly prodigal coming up with her own predictions,,,,lawd hav merci,,,,six years ago these rabble rousers had predicted that the ship was sinking so fast and that it was going to sink faster than thee Titanic,,, six years later the ship iis still afloat the same crew and captain in tact and mutiny on the bounty is still a call coming from the lost and wayward bees,, as they say there is no peace for the those who wish evil upon a fellow man……prodigal i mean you ole witch ..
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If the economy had tanked or had negative growth in the first quarter, you can bet your last dollar the Nation would have made it FRONT PAGE NEWS.
As usual the Clyde Mascoll will use the platform which his party’s newspaper has given him on Thursdays to tell us that we are bad off,etc,etc, etc
Barbados economy will rebound. It will be interesting to see how the Nation BLP writers navigate through this period of slow but consistent recovery overy the next few years while fulfilling their obvious political bias.
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Can Tennyson Joseph write about anything else except throwing political barbs at the PM. It is interesting that as a former political candidate in St. Lucia, he is unable to say anything negative about his party boss Kenny Anthony but focuses all his attacks on the Bajan PM.
Yet the title of his column is All OF We is One- Come on Tennyson get some backbone.
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Some encouraging news in the report but the source of future financing of the continuing fiscal deficit is the key issue.
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NationBLPNewspaper April 15, 2015 at 7:21 AM #
“Can Tennyson Joseph write about anything else except throwing political barbs at the PM. It is interesting that as a former political candidate in St. Lucia, he is unable to say anything negative about his party boss Kenny Anthony but focuses all his attacks on the Bajan PM. Yet the title of his column is All OF We is One- Come on Tennyson get some backbone..”
NBLPN, this is a very childish and simplistic contribution.
Shiite, man…. how come you are xenophobic when it comes to Dr. Tennyson Joseph, but stay on the side-lines and agree with your DLP’s own Mara Thompson, who is also St. Lucian, and the England born Irene Sandiford-Garner when they are “throwing political barbs at” born and bred Barbadians?
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The economy showed a little growth because of improving economies of source markets. No surprises there.
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Did I read the Barbados Today article correctly? A 12 per cent growth in long stay visitors (January – March 2015) but only a 6 per cent increase in spend. Should we be asking why? Shorter stays, lower end accommodation, what is the reason?
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Artexass stop with the crap, the Joseph boy writes as if he is in the back pocket of BLP yard fowls like you and prodigal. He follows the template of Albert Branford he does’nt write on any topic outside of scurrilous attacks on GOB and the PM in particular. If Jon Michael Geoffrey Manningham the BLP god was alive and the tables were turned and the Joseph boy was doing what he is doing he would be deported forthwith . He may not be a threat to national security but under Jon Michael a reason would be found to wave him adieu at the border. The Dems are way more tolerant to dissenting views. No one takes Joseph seriously since his articles have one purpose that is to make Barbados and its government look bad. There is no balance whatsoever to the rubbish he trots out. It raises the question of what can students at Uwee learn from such a biased person? Like the other foreigners Joan Benjamin, McHale, Gonzales his time too shall pass and resilient Barbados will prevail and flourish
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Mr Negativity ..adrein loverridge has resurfaced again to put his numerical spin on the economy..just another “bigshot”doom and gloomer. just for the record a significant amount of jobs came about because of the increased in tourist arrivals
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Like many others Bajans I take what Worrell say with a pinch of salt.I am surprised he didn’t mention that the unemployment rate was down to 6%.After all this JA has no class just like his creator Sinckler and admirer Freundel”Oliver Cromwell”Stuart.
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@Artaxerses
“how come you are xenophobic when it comes to Dr. Tennyson Joseph, but stay on the side-lines and agree with your DLP’s own Mara Thompson, who is also St. Lucian,”
Sir, please do not climb any higher up the political tree as you show your tail. My point is not xenophobic as contrasted to your grossly idiotic response.
I made a statement about Joseph’s inability to write with any balance even resorting to publicly giving the BLP advice as to what strategy they should use and never ever making reference to the experience of his native St. Lucia where he was an active political candidate and which is facing much of the same issues Bim is facing. If Joseph is writing as a BLP mouthpiece he should be man enough to openly declare his hand.
Only a political clown like you would compare Joseph’s biased cowardly political attacks hiding behind a newspaper column to some one like Mara Thompson who canvassed and was DULY ELECTED BY BARBADIAN CITIZENS.
Artaxerses, go to the back of the class, you DUNCE. I am disappointed in your response but not surprised.
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@ waiting April 15, 2015 at 9:12 AM
“The Dems are way more tolerant to dissenting views. No one takes Joseph seriously since his articles have one purpose that is to make Barbados and its government look bad.”
So if “the Dems are way more tolerant” why all the fear of social media? Why the urgent move to stifle free speech in your uninformed rush to a police state and lawless banana republic?
Why the rush to punish dissenting views with threats of cracking skulls and shooting people?
Why not just dismiss ‘Joseph” as an “ingrunt” foreigner from the low islands? Or is Mr. “Foreigner” Joseph merely holding up the mirror to your ugly lying corrupt face of hypocrisy and deceit? You seem to be doing on your own a fantastically beautiful job of making up yourself to be laughed at right throughout the Caribbean with poor Barbados paying a very heavy price for your jingoistic crap for make-up.
We see you have not learnt your lesson s from the Myrie case. Carry on smartly, Mr. Browne, in your xenophobic eyes is looking on as you pronounce him persona non grata.
We bet you can’t deal with that LIAT proposal? Time is running out for your ass as it will soon come crashing to the ground before you can say ‘LIAT Not leaving Antigua anytime soon’.
It’s a pity you would not ask your special advisor OSA (according to your colleague Fractured BLP) to do a presentation at George Street on the topic “Why DLP Bajans should cease to be xenophobic”.
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There is no nice way to put this….
But there are just too many ugly people running things in Barbados.
Not ugly in actual physical features, but in attitude, demeanour and countenance.
This kinda ugliness comes from the heart and mind….
look at young children and you hardly ever see it…
and with older folks it seem ever present….
TOO MUCH WICKEDNESS AND SINFULNESS IN THE DAMN PLACE.
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NationBLPNewspaper April 15, 2015 at 9:53 AM #
“Only a political clown like you would compare Joseph’s biased cowardly political attacks hiding behind a newspaper column to some one like Mara Thompson who canvassed and was DULY ELECTED BY BARBADIAN CITIZENS.”
Firstly, I’m not going to trade responses with you because your intellect, ability to reason rationally and IQ level are by far beneath mine. Your idiocy far exceeds your good sense, DLP yard-fowl.
Secondly, when your contributions are compared with mine, who do you think people would characterize as a “political clown”? I’m sure that 99.5% of them will agree you are the “political clown”, especially taking into consideration only a “clown” would BUY a paper just to complain about it. Does that make sense to you?
With all the alternatives available for you to read, such as Barbados Government Information Service, the Advocate Newspaper or the DLP web-site, all of which are pro DLP; you can tune into CBC 100.7 fm to listen to John Lovell and Maureen Holder talk their usual nonsensical DLP shiite, or view CBC TV8 news and local programming, which place a particular emphasis the DLP.
Yet you prefer to be consistent in demonstrating the DUNCE you are, by continuing to waste money buying the Nation newspapers just to gripe and write shiite on BU.
This article is about Barbados’s economic performance for the first quarter. Rather than make some comment on the subject, you come, as you usually do on every single topic, to post shiite ‘bout the Nation newspaper.
Wuh, shiite, if AC, Bajun Fuh Life, Togetherness, Fractured BLP, and NationBLPNewspaper are reflective of the “talent” in the DLP, nuh wonduh Babadus in shiite street.
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Arta
It is abundantly clear to all the Dems including Freundel ‘Oliver Cromwell’ Stuart,that with few exceptions,the intelligent Bajan is more comfortably aligned with the Barbados Labour Party than the also rans which end up having to join the Democratic Labour Party.It’s for this reason that this country is slipping and slipping further down the scale of human,economic,social and cultural development.
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Not too many people will believe the governor of the Central Bank. He manipulates the figures to manufacture growth. Members of the Central Bank staff will opening tell you that.
How comes the economy is growing yet the unemployment rate is going up? People cannot find jobs for the last six years?
How comes the economy is growing yet the QEH cannot get money to pay its creditors nor is it able to purchase the basic drugs to provide care for its citizens?
How comes the economy is growing yet the government cannot pay what it owes to the UWI and therefore has destroyed the future of many poor children?
How comes the economy is growing yet the government cannot pay its citizens their tax refunds?
How comes the economy is growing yet after collecting a solid waste tax to pay SBRC, its owner comes on VOB to say he has not received all of the money owed yet?
How comes the economy is growing but yet the government continues to borrow heavily from the NIS with as much as 70% of NIS funds tied up in government paper?
Even Charlie Skeete seem to be surprise at the report! You can hide and buy land but you cannot hide and work it. The governor can manipulate the figures all he wants, someday like the CLICO ponzi scheme it will all come tumbling down. The government is not paying whom it owes………what sense does that make?
Ac, you can continue to gloat that with all we have been saying that the economy has not crashed yet, just keep on doing what you are doing.
One day coming soon!
How comes the economy is growing y
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Steupsss
@ Prodigal…
…from the time that joker tried to explain the rationale behind currency exchange rates Bushie wrote him off as the secret PDC member who gives Adamson advice on economics…
It was damn embarrassing yuh….
…besides, he wid this “primary surplus” shiite too like Stinkliar…. just trying to fool the gullible for as long as possible…
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Again, points of concern.
The international reserves is at 2013 level in a low oil price market. The current price of oil has created a placebo effect. Our exports have declined. The optimism is being created because of tourism which is 40+ % of GDP. Should we be happy? Let us see what the MoF has in store shortly.
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Bush Tea April 15, 2015 at 11:56 AM #
LOL…you have me laughing my head off!
David……yes I too notice the sharp drop in the foreign reserves! At March, foreign reserves stood at $1,135 million…….was there not a time when the governor was bragging about having $2.5 million?
I am still searching the report to see under which heading the CBB has Leroy Parris stolen monies!
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The ugliest of uglies the mouth of blp propagands and misinformation can,t stand the fact that this tiny island has begun to dig itself out of the economic doom .yes the road to recovery was long and hard .but had it not for the wisdom of PM Stuart and his abilty to ignore the noisemakers this country indeed would have been in the hands of the global international payment programmes but because of this govt foresight to see “light”at the end of a dark night barbados is once again poised to push against its weight
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This international economist Worrell is so biased that he cannot bring himself to tell bajans what the actual growth was for Q1.Her the economist guessing again:” growth was near 1%.” What arabic numeral is that?Its like saying you have $1.00 and it earned interest of less that 1c.In most commercial banks one would have earned 2.5c But this is the style of the DLP government.The economist says fuel declined 41% in the latter half of the year.Petrol at the pump was $3.25 per litre.So why was the cost of gas not reduced by 41% governor to $1.91 per litre which might have translated in growth beyond your ‘near to 1%.’Instead we were made to pay $2.83 almost $1.00 more,that is another form of taxation by this bunch of loser for a cabinet and an energy minister known as a quisling,a traitor,one not to be trusted,a loser,a judas,a pro a la nelson.Birds of a feather.
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@ Prodigal Son April 15, 2015 at 11:35 AM
“Even Charlie Skeete seem to be surprise at the report! You can hide and buy land but you cannot hide and work it. The governor can manipulate the figures all he wants, someday like the CLICO ponzi scheme it will all come tumbling down. The government is not paying whom it owes………what sense does that make?”
If that wicked man even tried to pull wool over the eyes of the IMF officials by presenting them with bogus data don’t you think it would be like taking candy from a baby when telling Bajans the economy is growing?
The man has corrupted his professional integrity and therefore his credibility in convincing intelligent people of any thing dealing with the economy of the fiscal state of the country. He and Stinkliar are the Mutt & Jeff equivalent when it comes to reporting on the economy. One big and tall on lies, the other short and ugly with the truth.
The same way $300 million in foreign reserves could just up and disappear with no explanation to date so too can 1% growth appear from nowhere like two birdies
‘sitting on a wall; one name Chris and one name Delisle’. ‘Come back Chris, stay away Delisle’.
One of the most reliable indicators of growth in the transactional based economy of Barbados is the performance of VAT as far as imposition and collection is concerned.
Has there been any ‘significant’ increase in VAT collection to support this so-called increase in growth? What about the other indicators mentioned by you?
Do PAYE and NIS contributions reflect this increase in growth in the economy?
Or is this growth just a figment of the mad governor’s raving imagination to appease his political masters demanding some good news to put in the up coming budget presentation?
Now with this fabricated gospel to King Liar’s ears how can he ever think about additional tax impositions in his upcoming lying performance?
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Over the last 5 years we have seen our currency grow in value by about 25% making imports significantly cheaper from many of our suppliers and the value of our exports such as rum significantly higher to countries not using the US$ such as those using the Euro and Canadian $. There does not appear to be any reduced pricing anywhere.
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For the Governor of the Central Bank of Barbados to posit that there has been an estimated “almost one per cent” growth rate in the first quarter of the political economy and services industry sectors of this country ( Back Page news story Daily Nation newspaper, Wednesday, April 15, 2015) is utter and absolute nonsense.
What foolishness!!
Let us repeat what we have stated before on here and elsewhere – that the majority of people, in Barbados, who have been following these various kinds of political economic reports coming out of the Central Bank of Barbados, and many others, in this country, who have been so interested in the political material financial affairs of this country, must make strong calls among themselves for a Commission of Enquiry into some of the operations of the Central Bank of Barbados.
It is clear that the Central Bank of Barbados continues to put quite a lot of information into the public domain that does not square with what is actually happening politically materially financially in this country.
On such a basis, it is clear that the integrity and credibility of the Bank is becoming more and more compromised as times go by.
PDC
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Once again with another issue snatched from the hands of the blp.what is now being witnessed in the public domain are the king makers in the blp shiting in their pants
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PDC,
Well done…….why, this is the very first time on BU that I could give you an up vote!
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The people of Barbados over the past seven years never lived like they were suffering as propagated by the opposition party members on this blog. So many new pick up trucks on the road. Q burst every Thursday with people buying big drinks. The banks awash with savings. Just a few observations. I was disappointed in Rev Atherley and that lady who said she had to eat from Garbage bags. He is a Pastor with a Church and that is where she should have gone for help before eating out of Garbage bags. I did not believe her anyhow because before you buy a top up for five dollars you can get 4 Ramen pastas to cook. She is a woman who should be
It was embarrassing when blogger said that school children go to school hungry. Well that was happening even when we had lots of Ponzi money. I know that once they get to school at Primary and Secondary schools that they will only be hungry if they have Cheffete taste only because school meals are provided for those cases.
The country will sure recover and those who fed at the trough before will get their chance to feed again therefore stop fretting because it is only three more years to go.
Unless BUP is started
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what BUP.. ?
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Poor Prodigal has been frothing at the mouth for the past couple days, now it has gotten worse..if she continues very soon she would be needing medical attention to resuscitate. what a clown
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Freundel row your boat (Barbados economy) ashore….Halleujah – repeat 2 times.
Kudos to the dynamic duo of Freundel Stuart and Chris Sinckler along with.the entire DLP team, Barbados’ economy is beginning to rev up again.
Row on oh mighty Freundel….with your second – mate Great Owen by your side….Barbados will rise again to greater heights.
Onward to the Republic of Barbados.
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Check out out LAWYERS in the NEWS page,
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@ Fractured BLP April 15, 2015 at 5:34 PM
“Row on oh mighty Freundel….with your second – mate Great Owen by your side….Barbados will rise again to greater heights.”
The more you write the more we are keen to award you the title of BU’s Resident Comedian.
How else can we describe you other than in the frame of a laughing jackass of entertainment.
Ac might be described as a serious cu*t of ridicule and ‘vexatiousness’ but you, oh Fractured One, is in a class of your own in the school of buffoonery and comic relief.
If laughter is really the best medicine then you must be the modern-day equivalent of Imhotep.
It really takes the mind of a genius to conjure up a scenario where a grounded ship called SS Bimshire is about to be rescued by two old sea dogs who were once sworn political enemies. One, a sesquipedalian, stricken with the curse of arrogant incompetence and unable to lead people to a promised land.
The other, a true lucky devil of a drunken denuded sailor who has been accused of selling off the previous cargo of the ship for a few pieces of electoral silver and who like a modern day privateer can only see privatization as the way out of the mess left on the shoal of economic mismanagement.
Now my Fractured Petty Officer, which of those two blind old rats of deceit should take charge at the helm as Barbados sinks further into a state of social and economic stasis?
Would you put faith in the old sea dog 14 years of paro economics and selloff of the nation’s silver now turned brass bowls?
Or would you slip headlong into the banana republic where cracking heads and shooting people would be the staple of the day to ensure the ship of State remains afloat for all to shout: ‘All hail King Dictator Fumble and his sidekick Knight Sir OSA banded together to keep the wicking princess from the crumbling castle of power’.
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oh miller ..never knew i made u vex,,,,, lol u lucky devil
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@Miller
You and a few others can add a lot more value to BU by ignoring idiotic comments deliberately posted to distract.
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@ David April 15, 2015 at 7:27 PM
I know where you are coming from.
But the blog is so democratic and encouraging of free expression that it allows “free’ licence to engage occasionally in the past-time of ‘decent’ literary profligacy for mere entertainment and side attraction. Keeps the retired brain wickedly active, not so?
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david you need to see a ophthalmologist your cataracts are blinding you views to be objective
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david is one of them talking bobble heads who never let up on portraying Barbados in a negative light well today and onwards a dish of crow would be handed to him and the BLP misfit to feast on. that is why he is vex and wants to control the tone and direction of the issue,,,to david and the BLP orangutans HAPPY CROW DAY,
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@ ac April 15, 2015 at 7:59 PM
So how would you have portrayed Barbados under the14 years of OSA misrule? As a paragon of success fighting above its weight?
What do you expect the people to do when the front bulb lighting the path of leadership is blown and in need of replacement?
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miller 14yrs of decadence ,,opulence and selfishness,,,, which laid the foundation for barbados economy to spiral out of control. even now when you hear the raging bees longing for those yester years there is no doubt that saturated in their diatribe of political barbs is a selfishness which was a contributing factor that hurt and placed barbados on a slippery slope , all this might mean nothing to the bees as long as they retort is one of fierce combative propaganda to scare and formulate public views about the present govt,,
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@ David April 15, 2015 at 8:10 AM #
The economy showed a little growth because of improving economies of source markets. No surprises there.
From today’s Globe and Mail
“Bank of Canada Governor Stephen Poloz says there’s a brighter future ahead if people can look beyond an economy that’s teetering on the brink of outright contraction.
The central bank kept its key overnight lending rate unchanged Wednesday at 0.75 per cent, even as it released a new forecast showing Canada’s oil-dependent economy stalled and likely didn’t grow at all in the first three months of the year.”
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Steupsss
Wuh if Old Onions were to take the week of the month that included payday and manipulate his bills by not even opening the light bill; pretending not to see the telephone bill; giving the sea cat woman a big rock and delaying his mortgage payment…..he is bound to show good financials for the period.
Hear Onions… “Fish sales are up by 1% after the sargassum brought in some extra sharks last week”
But that don’t mean squat when he look at the whole month – unless he want the light and phone cut off and the bank to sell de house…. or the seacat woman to shut shop…
Obviously after he pay up all those debts (plus interest on all the money he already owe Bushie) ….de damn man BREK!
The Governor think everybody foolish like Froon and stinkliar?
Everyone knows that the tourism high season is our annual payday….especially when we get lucky and Canada and England get COLD COLD…
Everyone knows that we still don’t have enough money to pay back people tax refunds…shiite man… they don’t even have the money to pay their boss Bizzy (what a thing nuh!)….. de damn place BREK!!
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I spent some time reading and studying the Central Bank’s report for the first quarter of 2015, and found it quite interesting. The Governor mentioned that tourism GDP expanded by 4% resulting in an overall economic growth rate of under 1%. This news should be welcomed by all Barbadians, since economic growth is a positive circumstance for any country.
As we all know, the rate of economic growth measures the annual percentage increase in real GDP. Hence, economic growth is an increase in real GDP, (which basically means an increase in the goods and services produced in an economy).
There are a few factors (determinants) that influence the rate of economic growth, which could be itemized in two categories, namely (1) demand side factors and (2) supply side factors.
Demand side factors influence the growth of aggregate demand (AD). In simple terms, AD is the total demand for all final goods and services produced within an economy during a particular period of time and at specific prices. This represents consumption by individuals (C), government spending (G), investments by companies (I) and exports less imports (X-M).
Therefore, AD = C + I + G + (X-M).
So, from this equation, we can conclude that an increase in consumption, investment, government spending or exports will result in higher AD and, by extension, higher economic growth.
Recall the governor mentioned:
1) “The average annual unemployment rate is estimated to be about 13 percent.”
2) “Construction output fell by 2 percent, while the distribution, non-sugar agriculture and manufacturing sectors remained unchanged. At the end of March the sugar harvest had not yet started.”
3) “The fiscal savings of $326 million included $70 million of cuts to wages and salaries and $126 million in cuts in grants to public institutions.”
4) “During the first quarter, retained imports are estimated to have fallen by 12 percent, with fuel costs down 42 percent, food and beverages imports down 4 percent and capital goods imports down 6 percent.”
“For January and February exports of chemicals and food and beverages declined 2 percent and 18 percent, while rum exports were at the same level as in 2014.”
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Let us rationally examine (and individually) the 4 points I outlined in my previous post within the context of aggregate demand and economic growth. I will start at #1, the unemployment rate, which has been reported to be at 13%.
Obviously, during a recession, unemployment would increase because of firms restructuring or closing. We have seen the government retrenching over 4,000 public sector employees, with more to be sent home as a result of the merger of some statutory corporations. There are also further anticipated job losses in the private sector as well.
In a situation where unemployment is high, government could pursue expansionary fiscal policies, by decreasing taxes and increasing expenditure. Such actions would increase AD, which translates to a higher level of economic growth, as well as resulting in a reduction of the unemployment rate, since jobs would be created.
What government has done is to progressively increase taxes over the past 7 years, while public sector salaries and wages have not been increased over this duration of time. Government policies have, more or less, created a “demand shock” (an unexpected positive or negative change in aggregate demand or the changes in the spending behavior of households and firms).
For example, government tax policies can shock aggregate demand, since the introduction of numerous taxes has caused a change in the spending behavior of firms and households.
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“Construction output fell by 2 percent, while the distribution, non-sugar agriculture and manufacturing sectors remained unchanged. At the end of March the sugar harvest had not yet started.”
This obviously translates in a decrease in investment, also evidenced by the fact that government is still awaiting the $700M in private sector investment.
We all know the government does not have money and has experienced difficulty in paying those who supply goods and services.
With unemployment high, an increase in taxes, (which firms will obviously pass on to consumers, thereby increasing goods and services), a corresponding decrease in consumption, would ultimately lead to reduced profits. Firms will not invest until conditions are conducive for such an undertaking.
<<<<<<<<<<<<<<<<<<<<<>>>>>>>>>>>>>>><<<<<<<<<<<>>>>>>>>
“The fiscal savings of $326 million included $70 million of cuts to wages and salaries and $126 million in cuts in grants to public institutions.”
This means that government has been able to reduce spending.
<<<<<<<<<<<<<<<<<<<<<>>>>>>>>>>>>>>>>><<<<<<<<<<>>>>>>
“During the first quarter, retained imports are estimated to have fallen by 12 percent, with fuel costs down 42 percent, food and beverages imports down 4 percent and capital goods imports down 6 percent.”
“For January and February exports of chemicals and food and beverages declined 2 percent and 18 percent, while rum exports were at the same level as in 2014.”
The above can be interpreted as a decrease in both imports and exports.
NationBLPNewspaper accused me of being a dunce, so this is why I have to ask someone who is much more intelligent than I am, to please explain to me if the factors that influence economic growth have not been satisfied, [i.e. reduction in consumption, no investment, a reduction in government spending and a reduction in exports], what other determinants were used to calculate the less than 1% increase in the economy?
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@Miller
Of course, and occasionally.
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@Artax
We should be concerned at the low level of fdi reported compared to prior years.This is always a useful indicator of confidence in the economy.
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waiting April 15, 2015 at 9:12 AM #
“Nonsense, igyut, shameless man” [taken from the African movies].
From the time you read the construct of their contributions, which, more often than not, lacks reason but contains rhetorical political diatribe and plenty contradictory statements, you can rest assured the author is another jackass DLP supporter.
Additionally, THEY NEVER, EVER CONTRIBUTE ANYTHING OF RELEVANCE TO THE TOPIC. But that is not surprising because they lack the intelligence and rationale to discuss serious matters, such as the economy. They would rather insult contributors and engage in “gutter politics.”
These individuals also lack simple common sense, and this is evidenced by the fact that if any person chooses not to agree with this DLP administration’s policies, they are automatically labeled as “BLP yard-fowls.” Yet, when they openly praise the DLP whether right or wrong, they don’t consider themselves as DLP yard-fowls, but exhibiting some form of patriotism.
Here we have the “waiting jackass”, through his contribution, illustrating the characteristics I outlined in my opening statement.
The igyut mentioned “The Dems are way more tolerant to dissenting views,” (I don’t think Omar Maynard would agree with this statement, Michael Lashley made sure of that), yet he continued to berate Dr. Joseph and exposes his (“waiting”) xenophobia by calling the man a “foreigner” and he should be deported.
Why fret about Albert Brandford or Joseph, when you can buy the Sunday Advocate and read “A Guy’s View”, by Guyson Mayers. That should give you satisfaction, “since his articles have one purpose that is to make Barbados and its government look [good] .” The Mayers “boy writes as if he is in the back pocket of [DLP] yard fowls like you and [NationBLPNewspaper].”
“Waiting”, a lot of Bajuns “waiting” impatiently for election day, when “a reason would be found to wave [the DLP] adieu at the border.”
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David April 16, 2015 at 1:31 AM #
“We should be concerned at the low level of fdi reported compared to prior years.This is always a useful indicator of confidence in the economy.”
Good point, I agree.
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millertheanunnaki April 15, 2015 at 7:08 PM
Bush Tea April 15, 2015 at 10:42 PM
Artaxerxes April 15, 2015 at 11:58 PM
Artaxerxes April 16, 2015 at 7:40 AM
Excellent posts, my friends! Bushie, you are funny!
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Note to Table 1 – Tourist Arrivals by Source Market – Arrival estimates are generated by the Central Bank of Barbados using preliminary 2015 data. These are subject to change after the official release from the Barbados Statistical Service.
It being mid April, I assumed that the arrivals numbers used by CBB included actual numbers published by BSS for January and February, and it (CBB) guestimated March numbers.
The most recent Tourist Arrivals Bulletin at the BSS website is to December 2014.
See
http://www.barstats.gov.bb/search/results/0b439577a24215d390c7efb01c0264aa/
Two questions
Why, in mid-April 2015, has BSS not been able to publish January and February arrival numbers
How did CBB “generate” its “preliminary” arrival numbers
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We have heard all of the criticism of this govt coming from the opposition and the yardfowls..however what all and sundry are waiting to hear from the blp party and leadership what methods/ ideas/formula to improve upon and to sustain the barbados economy..with Clico and the corpse of DT the only but soon to be removed issue..hopefully one of the foot soldiers would send a quick memo to.to leeadership advising ” it is the economy stupid”time to sing a different tune
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From the Press Release
“The hotel room stock rose by 160 rooms, or about 2.5 percent, while the average length of stay of visitors dipped by 6 percent, a reflection of a higher proportion of North American tourists.”
Does the rise in room stock by 160 rooms include the 280 rooms at Casuarina that were not in operation in 2014?
Those darned NA tourists are dragging down the average length of stay.
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However we twist it the improving tourism arrivals given its high contribution to GDP has given the economy a lifeline, for the moment. We need to stay focussed on the structural changes needed to sustain growth.
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Only because of much snow up North, Nothing these fools and crooks did to help , Mother Nature get any credit if any, when the cold and snow comes people fly even more when its prolonged,
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Government’s revenue enhancing measures also contributed to the economic performance and the reduction in the fiscal deficit to the target of 7.2% of GDP. When compared to the previous financial year revenue collection increased by 170.9 million with total revenue reaching 2.5 billion dollars. There was also a significant reduction in expenditure by some 179.1 million. As a result of the financial discipline and good governance of the Government we were able to achieve our desired outcomes. Expenditure on wages and salaries declined by 70 million dollars, while transfers and subsidies declined by $177 million. For the first time since 2007/08 we were able to record a primary balance of $36.8 million dollars.
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@ Due Diligence April 16, 2015 at 1:23 PM
“Why, in mid-April 2015, has BSS not been able to publish January and February arrival numbers
How did CBB “generate” its “preliminary” arrival numbers”
Bajans should be justifiably classified as intellectual jackasses if they really accept as reliable anything coming from the Central Bank under the control of the current governor.
Can one explain how data on economic activity or output is measured? Are data surveys sent out to significant business enterprises in those vital areas of economic activity like tourism, distribution and retail, construction and financial services?
Were these surveys for the quarter ended March31, 2015 sent out, completed and returned in time for the guv to comment so authoritatively and pontificate so arrantly on the first quarter’s performance?
We are surprised the guv did not use the first quarter opportunity to blame the building of the prison by the previous administration for the leakage of forex.
Maybe he could use that prison payoff for the missing $300 million still to be accounted for.
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poor miller and the other troglodytes cant stand the fact that good things have been happening to this economy,,all of you should be ashamed of yourselves . if the gov lie this would come back to bite him in the arse,, i suggest that u millers sallow a couple Ex lax fast sending the political sewage downward to the lower intestine of your anatomy that has been spilling from your mouth daily,
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@ ac April 17, 2015 at 6:47 PM
“..if the gov lie this would come back to bite him in the arse..”
So why do you think the man is getting so ugly quarter by quarter?
The man arse is full of ugly festering holes just like the bullet holes around the face of OSA in February 2013 propaganda poster.
Ever time his arse is bitten by the dog of lies and propaganda (dlp) his face erupts with the swelling boils of dangerous partisan political infection and bacteria.
The man has lost professional integrity and intellectual decency not only among intelligent Bajans but also in the tight circle of IMF officialdom.
We are still awaiting the reason for the disappearance of the $300 million in forex.
Who laundered this money without his permission? Leroy Parris?
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Well growth in the first quarter.
Well unemployment down to 11%.
Therefore, thousands are Barbadians are confused how David of BU can attribute this spurt in Barbados’ economic position as a result of growth in our source markets.
Yet when our source markets were in a depressed state which cause the same to be reflected in Barbados’ economy the same David blamed the DEMS.
Talking about being devious? ??
If such screwed logic isn’t being devious….then I do not know what is! !!
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Wunna does tek David seriously though?
David (BU) just like Hilary Beckles……switches his logic when it suits him.
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David (BU) a.k.a Timothy Slinger
I see on page 15A of the mid week nation for April 22, 2015, that have been brought before the Court on a charge for stealing liquor.
It was only a matter of time before you were caught and exposed.
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David of BU if the reports are indeed true…..that you are in fact Timothy Slinger
Then the BU reading family will surely not see a lead story on BU about your Court battles.
Ha ha…..how the mighty David has fallen! !
.
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Tourist arrivals up by 25%.
Ah wonder what the doomsayers like David of BU have to say about that!
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T&T suffers big blow
Trinidad and Tobago has suffered a big blow to its status as the place to invest in the Caribbean after international agency Moody’s downgraded the country’s credit
,……………
I wonder if David of BU would blame Chris Sinckler and PM Stuart for the above situation also?
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Was the T&T downgrade from Baaa1 to Baaa2 or to junk like Barbados. Does T&T have investment grade paper unlike Barbados? Was the downgrade mainly attributed to fall in oil price? Is the comparison even a sensible one?
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Trinidad and Tobago has suffered a big blow to its status as the place to invest in the Caribbean after international agency Moody’s downgraded the country’s credit rating from stable to negative.
…….
Now that the above story is out…given David’s latest response is that the most devious comment he can make?
Barbados deserves better !
known….is that the devious response David can give?
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@Fractured
You are a yardfowl, carry on.
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We all knew you would have retreated to your cesspool of commentary.
You scoundrel!
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You YARDFOWL you. In fact you define YARDFOWL.
>
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