Barbados Economy: Growth, the Next Chapter

The Barbados economy must grow and many have been asking where is the growth plan. At a recent Barbados Chamber of Commerce luncheon the prime minister identified several private and public sector projects expected to fuel economic activity in the short term. The Nation newspaper editor has done a fair job capturing what the prime minister shared last week.

Projects_BCCI_Nation _newspaper

144 comments

  • https://www.nationnews.com/nationnews/news/243885/stuart
    Stuart to have say

    AFTER TWO YEARS OF SILENCE, former Prime Minister Freundel Stuart will be defending the stewardship of his Democratic Labour Party (DLP) administration which was swept out of office 30-0 by the Barbados Labour Party (BLP) in the May 24, 2018 General Election.

    Stuart last engaged the nation when he conceded defeat on that night.

    When contacted by the NATION, Stuart said he was still crystallising his thoughts, but stressed that he would be addressing allegations the country was mismanaged between 2008 and 2018. He will address DLP faithful at a St Philip North branch meeting on Sunday at Princess Margaret Secondary School.

    “Really? Did this really happen? I will be taking a retrospective look at the ten years under the DLP and compare that to what is happening now,” he said.

    When pressed further, Stuart declined to give details.

    Since being ousted, the DLP has yet to announce candidates for the next election, constitutionally due in 2023. The party was dealt another blow when former minister in Stuart’s administration, Donville Inniss, was found guilty last month of three charges of money laundering in the United States. (DF)

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  • An area that can generate growth for the MAJORITY POPULATION…but badminded negros in the parliament already made it clear that they do not want the majority population growing any wealth for themselves, they want them dependent on the toxic dangerous racist tourism only, while they enrich themselves and their bribers off the population’s back.

    https://barbadostoday.bb/2020/02/12/cdb-to-decide-on-financing-for-marijuana-industry/?fbclid=IwAR20cla6diSn_E4lBGdSBTFdf9WMUKpszi9uFdpuceauftffU0WR76xJq2U

    “Dr Smith warned that as Barbados and other countries develop the cannabis industry authorities should ensure that locals and the country benefit.”

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  • They will never have growth in a system created just for them, not to benefit the Black majority as a collective.

    The house negros in the parliament allowed the cousins in the palace to get them to CRIMINALIZE African spirituality, so intent they all are on maintaining a slave society in Barbados and the Caribbean.

    ..the lowlife BLP criminalized African spiritulaity in 1998….it was criminalized across the Caribbean by all the house negro governments at different times….and these stinking hypocrites recently rushed off to Africa pretending they are African and are all up in Africa after knowing what they did.

    Let’s see if they remove those shite laws off the statute books.

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  • After 2 years of silence and a party in shambles you really believe anyone want to hear from Stewart now? When you coming bring sinkler too as you would at least have somebody to talk to when no one shows up.

    Take my advice it is better for wunna political cadavers to stay buried.

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  • My concern here is that we are banking heavily on proposed projects to start when there is much we can do without them. Our agricultural sector and renewable energy sector has massive potential for growth and the conservation of FX, Yet we pin our hopes all on tourism and new hotels.

    If the governor predicted growth of 1.75% this year and as of March no projects have started, I await a revised growth projection downward by September or so.

    Liked by 2 people

  • Our agricultural industry missed the boat many many years ago when consumers taste changed and demanded organic based goods/foods
    Some so called intellect decided it was better to cut down many of our organic based fruits like soursop. Dunks gooseberries and a list of many other fruits which would have served barbados economy well in a global market

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  • @John A

    The projects in the pipeline are to maintain life support, however, what is also urgently needed is a transformative plan targeting medium to long term.

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  • A little birdie told me Massy “quietly” sold all of it properties in the Pierhead area.
    This is all those buildings that housed BS&T businesses that they promptly closed when the bought BS&T.

    No way they sell those properties that they have been sitting on for so long unless they have advanced knowledge of developments to come.

    Behind closed door decisions were made, before the election. Its all on the PM to manage the politics.
    This is a 15 year plan, that is intended to give the PM three consecutive terms or more

    Enjoy the ride folks, we are just pawns in the game

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  • When will the Hyatt start. So much emphasis was placed on the start of the Hyatt giving a starting date / period of February

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  • @ David

    Agreed we need a plan that encompasses ALL and is reliable as a source of monthly income. Projects are spike income based so you get a block of income followed by a dry spell till the other spike.

    Let me ask you one question. If you are planning for increased tourism and already have a food import bill in excess of $500M, wouldn t you look at agriculture along with tourism as they go hand in hand? I mean you got to feed them while here.

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  • @@John A

    We will be forced to look at agriculture given the disruption to the global supply chain with the advent of caronavirus and other strains to follow.

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  • @ David

    We also need to look at sustained monthly income as opposed to spike income. Both agriculture and alternative energy are sustained monthly income as you have to eat daily and you require power daily.

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  • Barbados population is only 285,719

    it’s weakness could become it’s strength

    a form of socialism and investment in infrastructure will work

    but would upset freedom crier who loves American capitalism

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  • Here we are asking the same questions about agriculture again. Will we ever get serious?

    Liked by 1 person

  • Vincent Codrington

    @ Red Guard at 10:12 AM

    A very interesting move on the part of Massy to sell land on the Pier Head. What do they know that the GoB does not know?

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  • Dirty no good black black leaders in the Caribbean who possesses the viliest minds filled with self-hatred and self-loathing for their own African culture and history, joining with the cousins in the palace to destroy African spirituality in their own people…what is your excuse for still criminalizing African spirituality in the 21st century while running down to Africa with remains claiming to be African…you lowlifes, you will pay.

    “The divisions within Jamaica about the status of the law stem from the double meaning of the term. In everyday use, obeah names hostile spiritual practices that many Jamaicans fear. Yet the wording of the law and its historical use by the judicial system targets a much wider range of activities. Obeah was initially criminalised to protect slavery against uprisings; the current law was made to symbolise Jamaica’s hostility to its African connections and to suppress poor people’s religion.”

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  • @Vincent

    Or do they have a buyer that was In the nest that has flown the nest and is now negotiating privately as opposed to through the boss lady?

    You in the right church but wrong pew! Lol

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  • Vincent Codrington

    @ John A at 11 :05 AM

    Could dear, John A.
    Last week Robert Lucas kick me out of the Choir Stall and now you have me sitting in the back row?. You ought to check my genealogy.

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  • @ Vincent

    LOL no I got you in the pulpit but I giving you a different bible to use.

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  • Sometimes I am totally lost. Do we actually think we can just jump start a new agricultural policy overnight?Do we really think an economy is like a kennel that every time the dog escapes you just find an old piece of wood or galvanize and stop a hole?
    Do you have any real clue what economic planning and policy entails?

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  • Some islands including Barbados upgraded to decriminalizing African Spirituality in 1998, but too late, the damage was already done, no one speaks about spirituality on the island, not as long as it has anything to do with Africa, they only gush about the fake spirituality in the toxic churches like a crazed mantra, hollow and empty..The people knew nothing.

    “Over the last generation, many laws against obeah have been quietly repealed or revised away. Obeah was decriminalised in Anguilla in 1980, Barbados in 1998, Trinidad and Tobago in 2000, and St Lucia in 2004. In Guyana, the government last year announced its intention to remove the crime of obeah from the criminal code. In Jamaica, the last conviction for obeah that I found was that of Cindy Brooks, in 1964. The last arrest for obeah I located was in 1977.”

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  • How does obeah work. I read that killing is a buzz, releasing souls into the atmosphere. Early religions used sacrificial rituals as part of their climax, animals replaced babies and young virgins with innocent souls.

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  • I always wondered how the so successfully managed to knock African spirituality out of the enslaved and then out of their descendants…now i know, it makes so much sense.

    ‘Obeah was first made illegal in 1760, as part of a sweepingly repressive act passed in the aftermath of Tacky’s Rebellion, the largest uprising of enslaved people in the 18th-century British-colonised Caribbean. The law was a direct response to the fact that the rebellion’s leaders were advised by obeah men who attempted to give them courage, solidarity, and spiritual protection. Along with prohibiting enslaved people from holding weapons and restricting their ability to congregate, the law made obeah a crime punishable by death if done by any ‘Negro or other slave’. Those prosecuted under it were enslaved people whose actions damaged slavery, either because they were aimed directly at slaveholders or because they harmed other enslaved people – and thus might reduce the value of slaveholders’ property.

    The law against obeah lapsed with the end of slavery in 1834. The Jamaican government, like other Caribbean governments, acted quickly to ensure that obeah remained a crime. The 1833 Vagrancy Act prohibited obeah. The first stand-alone Obeah Act, passed in 1854, made obeah a crime punishable by flogging and imprisonment. It equated obeah with ‘myalism’, thus defining obeah not just as acts meant to cause harm but as connected more broadly to religions with African origins.”

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  • @Redguard
    did your ‘birdie’ say if they sold the former Banks property too?

    Liked by 1 person

  • Thye used a broad label for African spirituality and called it all obeah, they knew what they were doing. It was never about stopping any obeah, it was all about keeping Black minds enslaved and unable to free themselves using their African culture.

    “Obeah was first made illegal in 1760, as part of a sweepingly repressive act passed in the aftermath of Tacky’s Rebellion, the largest uprising of enslaved people in the 18th-century British-colonised Caribbean. The law was a direct response to the fact that the rebellion’s leaders were advised by obeah men who attempted to give them courage, solidarity, and spiritual protection. Along with prohibiting enslaved people from holding weapons and restricting their ability to congregate, the law made obeah a crime punishable by death if done by any ‘Negro or other slave’. Those prosecuted under it were enslaved people whose actions damaged slavery, either because they were aimed directly at slaveholders or because they harmed other enslaved people – and thus might reduce the value of slaveholders’ property.

    The law against obeah lapsed with the end of slavery in 1834. The Jamaican government, like other Caribbean governments, acted quickly to ensure that obeah remained a crime. The 1833 Vagrancy Act prohibited obeah. The first stand-alone Obeah Act, passed in 1854, made obeah a crime punishable by flogging and imprisonment. It equated obeah with ‘myalism’, thus defining obeah not just as acts meant to cause harm but as connected more broadly to religions with African origins.”

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  • @John A
    The food import bill is determined by market forces.
    If Bajans want brie, gouda, oysters, salmon and caviar and are willing to pay the price Massy, Carlton et al are free to import.
    We have signed on to the WTO, the government cannot restrict imports unless it is for health or security reasons

    Instead we must find ways to increase exports, especially for high end processed products (Gourmet sea eggs)
    We have enough knowledge and expertise on the island to enter the high end food market

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  • @Northern
    no they didn’t say.

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  • 555…check this out. That is why they never taught the right history in the Caribbean, the stinking scum.

    https://www.facebook.com/groups/269202760462518/permalink/489122971803828/

    “A supporter of slavery, Christopher once wrote:-
    “I have lived among my Negroes, and seen their comforts, and I will assert (defying all contradiction), that a more happy and contented class of beings never existed , until curse with the blessings of the Anti-Slavery Society…I have bought my Negroes and cultivated my land on the pledged faith of England. Secure me from loss, or give me compensation and you may offer manumission to the above Negroes tomorrow.”

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  • Know your history then you will understand what is happening today and why. Just replace Jamaica with Barbados, because what happened in one Caribbean island aka colonies, happened in all..

    https://www.facebook.com/groups/269202760462518/permalink/489102531805872/

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  • @ Redguard

    Everytime I see imported tomatoes and lettuce in the supermarket I cringe! Don’t talk about when I saw stouffers mac and cheese that was selling for $28 for a small tray.

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  • @ Redguard

    Don’t forget though when Mr Bynoe at Carlton did his buy bajan proper pork campaign a few years back how good it was for local pork sales.

    We can’t just promote local agriculture successfully without education and marketing being a part of it. Of course that is assuming we view it as a business of course.

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  • Stop Googling and cutting and pasting nonsense.

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  • Still not sure ’bout the obeah voodoo oodoov but it time to Africanise and mobilise the black man woman and child

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  • @ Hal

    You cross my mind today when I read we are now looking for a growth plan. I remember how bad we got cuss along with poor Vincent for saying last year BERT would produce no growth.

    According to the authors of old “alas it has come to pass that no growth has occurred in the kingdom under King Bert, so the wise ones now searcheth for it elsewhere.”

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  • Shut up Hal…ya little brainwashed, slaveminded ass.

    we know you are a lost cause already.

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  • The govt knew that the BERT program was never designed to create growth
    However the govt only concern was building a foundation on paying debt
    Now that reality has sink into the minds of govt and the cries and howls of the people pain is being heard
    Mia delivers another long winded statement propped up with political gimmicks and meandering talk.about counting the number of growth projects coming on hand
    The reality of all of what she said is that the projects of which she speaks are projects which she fought against
    Her deception nature is one which would push barbadians further into the depths of poverty

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  • @ John A

    Can you see the making of an excuse: Barbados is too small, both in terms of population and physical size, so it does not have the capacity for growth. We have to import more people, preferably ones who can invest in the nation (that rules our CARICOM citizens) etc and it goes on. Note, nothing about tourism or hotel corridors; not, nothing about We Gatherin’.
    The truth is the Mottley government has no idea what to do. The population of Barbados, 280000, is the biggest in its history. At the beginning of the 1960s, Barbados had a population of 150000 and already there was talk of sending people to Dominica. And as far as I know, the physical size of Barbados (even allowing for the port) is roughly the same as it has always been.
    Evangelical speeches, flaring hands, punching above your weight and being world class are all mumbo jumbo. The president has turned a personal ambition in to a wish for a nation. She is wrong. It will end in tears.
    .

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  • Ah glad UK used your taxes for 40 years to pay off slavemasters, you deserve no less…lol

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  • fortyacresandamule

    It is no easy feat for a small, open, vulnerable and to a degree developed economy like barbados to sustain growth, of say even 3%, over a long stretch of time. We are not operating from a low-base anymore. And because we are so import-dependent, large capital intensive projects and even household consumption expenditure add little to growth.

    Presently there are a lot slacks (high unemployment and low asset utilisation rate ) in the economy. Therefore, we are operating way below our GDP potential. We could bump up our growth rate by converting some of these slacks into production. Expansion in construction, tourism, agriculture, and business outsourcing provide the greatest opportunity to absorb the surplus labour from the system which will in turn address the low capacity utilisation problem.

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  • @ Redguard
    Your mention of gourmet sea eggs is extremely interesting. That’s where our head should have been at least forty years ago. We just got around to Culinary shows and so on.
    It was refreshing to read something so progressive and enlightening . Unfortunately it may be a bit too late.
    Good post.

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  • @ 40Acres

    What are you saying? That growth is a lost cause?

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  • Did sinckler have a growth plan???? NO! but ha had many stabilization plans .
    Yet he had growth of over 2% in 15 & 16

    if I remembered correctly, the NR’S’L wes introduced in 2016 and there was 2.5% growth. Sinckler got “greedy”(for some reason) and bump up NRSL to high and we had a reversal of that growth.

    Those that are pushing that we cannot have growth under BERT or without a growth plan IMO is pushing a false opinion.

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  • fortyacresandamule

    For us to maitain a decent growth (that which can absorb the excess labour) level over a long horizon, we must become more PRODUCTIVE. In any competitive economy, productivity is a dynamic and perpetual work in process activity. Technology transfer, energy efficiency, alternative energy source, flexible labour system, quality road infrastructure, and mass transportation are just some areas that need to be seriously addressed in order to unleash our productive capacity.

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  • @William

    It is not too late.
    We have world class homegrown chefs. We have research and commercial food scientists (Dr. Lucas would know the good ones)
    We have a ready product testing ground at the many hotels and restaurants.
    And the global market is ripe for unique healthy foods
    All that is required is to get all the moving parts together.

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  • @ 40Acres

    By ‘excess labour’ do you mean full employment? If so, the only time we have had full employment in Barbados was during slavery. When you say ‘productive’ what do you mean; productive in what?
    Mass transportation? Flexible labour? quality road infrastructure? Technology transfer?

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  • fortyacresandamule

    @Hal. No, growth is not a lost cause. However, I think expecting growth rate greater than 3% over a long time frame, operating within this present economic model is not possible.

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  • Heard this many times in Barbados.

    ” yuh can’t eat de money ”

    The day will come when Bajans will be forced to change their consumption of imported food.

    A lot of them will learn how easy it is to grow vegetables and some will be smart enough to plant fruit trees.

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  • @ 40Acres

    What has global growth averaged since the end of the Second World War? Why 3 per cent growth?

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  • @John A

    When did the government promote BERT as a growth plan?

    BERT was always meant to stabilize.

    Based on reports we have stabilized. This is why talk about growth has started to resonate at this stage of the plan.

    BTW, you have read CDB forecast of 1% growth for the fiscal?

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  • fortyacresandamule

    @Hal. Correct. Reaching full employment to realise maximum GDP potential is the policy of every government. In Bim that would be like an unemployment rate of 5%. By productivity, I mean getting more output with the same or less level of input.

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  • Gourmet sea eggs? A day late and a dollar short first there is not enough to satisfy local demand and more so fishermen in Maine andMassachusets have been harvesting sea urchins commercially for years and shipping the roe to Japan in time to add to their varieties of sushi

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  • May i ask politely how many of the experts on this blog on the economy are economists?

    Liked by 1 person

  • mrmentionbhl@yahoo.com

    @Hal. Great question? For global growth, I don’t know. However, I know for the USA it is less than 5%. For most mature and developed economy, during times of normalcy, a 3% growth rate is a more sustainable and reasonable bound.

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  • @ Redguard
    Your optimism is inspiring. However breaking into such a market entails a lot more than having chefs. We need marketing and promotional experts who know that global market. We always believe that the world is waiting on us and we can rush in and take over. Marketing gourmet foods to a global market is not an easy task. Having skills is one aspect however there are several other areas.
    For example look at how the Jamaica jerk culture has taken off and now firmly established globally. We need to understand that reggae was the forerunner. There are always dots to be connected.
    We need not only skills but capital for product development etc.
    Not too late perhaps but a lot harder than it would have been at least twenty years ago.
    However I respect your optimism.

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  • @ Redguard February 13, 2020 3:03 PM

    Thanks for your accolades. I was doing some research work under the aegis of the BIDC and local Science Innovation center here. The idea was to come with degradable packing film. I was operating out of a forty-foot container which was converted into a lab using the minimal of equipment (pH meter, vacuum/compressor, distilled water still, water-bath, microscope. scientific balance. ,oven and a refractometer) I was trying to get a degradable plastic from glucose which I did achieved. I was doing some storage test to ascertain how well the product would stand up when the whole thing was placed under the Ministry of Education, which then closed down the whole things. I still have samples of the product and as expected, there was some non-enzymatic darkening. Apart from that facet the product is still in good shape . The research was closed down about five years ago, I wrote the Permanent Secretary in the Ministry of Education expressing my dismay at the action (by the way I wasn’t being paid to do the work; I just did it because it is what I like doing) and stressing the importance of Barbados doing research work but to no avail.. I even e-mailed a copy of the research notes to the blog-master. These people in Barbados aren’t serious about science. I have put up proposals for developing animal rations using discarded coconut shells using continuous fermentation techniques using immobilized enzymatic techniques. There is no appreciation for science. There will be no progress as long as persons such as James Pau( who has no training in the disciplines are calling the shots).

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  • @40Acres

    So 5 per cent unemployment is full employment? You are falling for the policies of the late John Kennedy in the early 1960s, when growth became an objective obsession of government. That was a new American interpretation of Keynesianism, one that has remained with us since then. Se Kennedy’s speech at Yale university in 1962.
    This thinking gave birth to Solow’s theory of growth, which was compromised by the Phillips Curve, the trade off between jobs and inflation. We now know, looking back, that the Vietnam war catapulted the US in to a decline from which it has not been able to escape. The steady state growth model was and remains a myth.
    The difference between the 1960s and 1980s was that in the 60s they thought more government intervention was good whereas in the 1980s (Reagan/Thatcher years) they thought less government was good. Same ingredient, different recipe.
    To cut a long argument short, Barbados can function well as an economy as long as we abandon the silly nonsense of being world class and punching above our weight.
    Look at other middle economy nations and see how they do it. My old grand mother used to call it living within your means. If you earn $10 and spend $11, you are living above your means and this is a Bajan norm..
    The crisis in Barbados is a crisis of ideas. Both the DLP and BLP are trapped like a hare in oncoming head lights.
    .

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  • @mrmentionbhl

    You are right up to 1970s, the collapse of the Bretton Woods system. It is a good start to look at the growth of South Korea and Taiwan, and analysis how these economies grew.
    We also talk a lot about Singapore, but often we miss the key points of Singaporean development and the role played by L Kuan Yew. Where is our Lee?

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  • @ David.

    BERT was sold as a RECOVERY plan not a STABALISATION plan or they would of call it BEST.

    You can not use the word RECOVERY and not factor in growth. They often spoke of growth in the BERT plan with utterances from both the MOF and Persaud to this effect.

    The plan was sold as a RECOVERY plan and was never offered as a STABALISATION plan. In economics these are as different as night and day.

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  • For those claiming there was growth under sinkler for God sake go and read the central bank reports for those years. The highest growth for his last 5 year reign was 0.5% for 1 year. Now mind you the central bank has never stated what the margin of difference is on their reports, so we don’t know if even that was ever achieved in the lost decade in real terms.

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  • @ John A

    The latest nonsense is that BERT was this and not that. The apologists are like that. If the economy had grown , they would have been heralding BERT but there is no growth so they must now declare that BERT has met expectations and that growth was never a part of such expectations.
    They cannot bring themselves to simply state that there was no plan to grow the economy.
    Have you not heard the latest: prices have risen because of the drought that pushed up the price of carrots( Mascoll). They said it was the NSRL. The NSRL was removed but prices still went up.
    The Duopoly Rules

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  • @ Hal

    We will never have a leader like Lee as the ones here are too interested in the vote and not rocking the boat.

    You believed under Lee a NIS could be years behind on their financials? They would not only be fired but probably In jail!

    Let those that speak of Singapore go and research their laws and adherence to law and it’s enforcement. You will never see that here so wunna could forget talking about there and here. You feel in Singapore they would allow a $500M vat receivable balance to be forgiven? Jail doors would of swing there. Lol

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  • “May i ask politely how many of the experts on this blog on the economy are economists?”

    economists can never get anything right, their remedy for economic woes…raise taxes and borrow, borrow, borrow, they should criminalize that useless degree..

    ….Hal is just typing shite so he can admire his posts…shooting the breeze.

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  • Wily feels sick after reading all the POLITICAL CRAP published in the so called Barbados Nation Newspaper. Does this news organization remotely know what journalism is, oh yes its the mouth piece of the present BLP government. The real issue is that 260,000 Bajans are lapping up this crap and believing same. No wonder that Barbados is known as a FAILED STATE.

    If all the listed projects came to fruition it would only result in a MOMENTARY financial uptake and not result in a sustained growth over time, in fact it may well result in a more disastrous downturn. Barbados is already teetering on the cliff edge with one foot hanging out into oblivion. The present BLP Government has yet to present any medium to long term sustainable development plan which is necessary for any REAL GDP growth. Presently the government cannot sustain growth that even keeps up with inflation, otherwise know as recession. .

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  • @ William

    That comment by Mascoll was questionable. Many items now especially vegetables cheaper than when it was raining heavily. After all when it rain nuff I sure I read farmers in St Lucy had lost their entire crops. I remember well when tomatoes in the rainy times was $9 a pound and a head of lettuce nearly $6. Why just Saturday gone I pay $3 a pound for tomatoes and $3.75 for a head of lettuce.

    The only drought I see is a drought of working ideas and a growth plan!

    I always say if you ain t got an intelligent reply then hUsh you tail!

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  • @ John A

    Stability is only a contingent measure. It is not a policy. What happens after? Let us turn BU in to a free market of ideas and not party hackery. Get Persaud to explain his master plan.

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  • They use the same economic models every time, then a recession hits…and repeat, anyone paying attention can predict the outcome…i was never impressed with the predictions and projections…same shit different year.

    https://www.nationnews.com/nationnews/news/243884/cdb-predicts-cent-growth

    “But the CDB’s forecast of one per cent expansion in gross domestic product (GDP) is not as optimistic as the Central Bank’s 1.25 per cent to 1.75 per cent outlook, and is marginally above the International Monetary Fund’s 0.6 per cent economic growth prediction.”

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  • @ Hal.

    I agree with you but unfortunately enough of us don’t demand information and hence we don’t get it. Surely you recall the true cost of the debt restructuring still remains a state secret.

    To me the Nation article read like an advertisement and not an analysis. What we as a people need is free and opened informed discussion on our true economic position. Who corns get mash in such a discussion so be it.

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  • over all growth under sinckler was negative.

    no one ever claimed that thare was over all growth under sinckler.

    why take a five year sample to prove there was no growth?

    my point is that for those two years , without a growth plan and after a few stabilization plans he had growth even with the high taxtation. – this he messed up when he pushed NRSL too high.

    Prove me wrong that thare was no growth in those two years!

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  • @ David

    Yes I saw the CDB projection and it is moving in the right direction. The dark horses in our 1 legged economy will be that Virus and the effect the UK market post Brexit will have.

    I have not seen figures for January yet but I can tell you many of the industry players have been reporting lower spends than last year January. They seem to be spending more on activities this year so far and less in consumables. That being said January is only the first month so that lost ground could be made up over the next 3 months.

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  • @John A

    Can you suggest what is preventing free and open discussion on any matter given unfettered access to social media?

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  • BERT has about another two years to go, if the economy performs as predicted (as it has bes doing so far) the ecomomy can grow by AT LEAST 2% from where it was at the start of bert – this include the two negative years 18 and 19

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  • @John2

    What are the inputs to that growth?

    Liked by 1 person

  • Perhaps a life without money can be found.

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  • @ David.

    Political favouritism and yardfowlism are the roadblocks to impartial discussion.

    Regardless of the data you put out there some party faithfuls simply refuse to accept it. Or they try to twist it based on some insignificant point. Failing that they turn to blind unsubstantiated claims of future miracles to come. In other words the ” how great thou art syndrome.”

    One thing I can tell you is numbers never lie. But that doesn’t mean you cant lie about numbers.

    I simply ignore those serving their party loyalties and stick to those capable and will to discuss reality free of prejudice.

    Then you have the sheep and Koolaid drinkers who follow and believe everything and are void of independent thought, even though they have benefited from free education.

    Having said that thankfully they are still enough willing to discuss matters in a real world scenario, so all is not lost.

    Liked by 2 people

  • in other words, if you don’t agree with john A you are quickly label one of his descriptions etc
    or he makes a comment to disagreement he quickly pull the political card.

    Like

  • to ward off disagreement

    Like

  • “the economic growth rate increased to 1.6”

    Bring the report that said the highest was 0,5 in the last 5 years !

    Like

  • Well look at this thing do nah! I ain’t call a fellow name and just so somebody fly up on the defensive!

    Look like Bob Marley was right when he sing ” who the cap fit let them wear it.” LOL

    Anyhow I going leave this with you and go and get little dinner.

    ONE SONG DOTH NOT A SWALLOW MAKE.

    That was not Marley though. Lol

    Liked by 1 person

  • David

    The same way we had some under Sinckler even with all the other government financials all over the place, I don’t see why with better government financials we cant get some growth this year and next.

    Don’t forget in 16 and 17 government was coming to the end and there was a lot of negativity in nearly everything in the country.

    look even last year we moved from like -0.5 % growth to -0,1%, We even had growth (don’t mind how minor) in q4, without any growth plan and no major construction. that tell me the economy is heading in the right direction and is only a hair breath away from positive growth.
    what we have to do now is sustain and build on that .

    I know you looking for me to give reasons like investor and consumer confidence and the we gathering

    Like

  • fortyacresandamule

    @Hal. Sure, the 5% unemployment rate is purely theoretical on my path. I agree with most of your historical assessment on the subject. The Phillip curve has been discredited since the 70s with the advent stagflation. Yet, to this day, still a lot of central banks around the world incorporated it into their forecasting model.

    Like

  • @John2

    Not looking for a generalization. Where did the growth come from under the Sinckler/Worrell unforgettable years.

    Like

  • Go bring the report that said the highest growth for the last 5 yrs of sinckler was 0.5% in a single year

    Like

  • You don’t have to call a name. I am the only person on this topic (and maybe on this blog) that does admit that sinckler had some growth..

    I am not on the defensive, I am on the attack. You defensive stroke is to run and get your dinner.

    Like

  • All those countries that created sustainable long term growth had an educational system geared to building an economic foundation having programs which equipped the students with higher level of entrepreneurship and advance academics whereby the student upon leaving school not only have and interest in becoming a professional but was fully equipped to build a bridge between a need for self empowerment which help to create a climate for productivity and financial stability for self and country
    Barbados is million years behind in achieving such goal
    Hence the talk of economic growth would remain just talk until barbados education system gets the ball rolling
    The technocrats and so called intellects have this country all screwed up because of their own self interest
    Time to go back to the mom and pop days when an older generation understood the key of self empowerment

    Like

  • David stop playing wid me man!

    According to the CB , growth was due mainly to an increase in 2016. that the only I can tell you now.

    Like

  • david

    as I said before. overall growth in the 10 yrs was negative

    Like

  • Look I am not a fan of sinckler but facts are facts he had some years of growth and some of negative
    give jack his jacket.

    IMO
    He was learning on the job and coming on to the end he was getting to figure it out a little.
    He ran out of time cause the election was coming up so he was trying to accommodate for that and at the same time he probably was preparing to go to imf after election. Well we all know what happened.

    good riddance

    Like

  • @ David.

    Let me tell you why under the sinkler years growth is not worthy of discussion or wasting further time on.

    During those years an unprecedented amount of money was printed and funelled into the economy which created a grossly overstated economy. When Mia got in she had to “remove” that false surplus from circulation. The debt restructuring and fall in interest on bank paper did that to a large extent. Now remember when we speak of removing surplus paper from the economy we can’t burn it, because it already has an owner. What we do therefore is restrict its potential to further inflate a false economy. So the person that was getting 7% now gets one, the bonds maturing next year say get pushed back ten years etc.

    So we have to decide what was the growth made under Sinkler in real terms? In other words if we were printing $50M a year for 3 years we put $1.8 billion in unsupportable paper into the economy and we got back little to no growth. At this point ask yourself what do you think true supportable growth was over his reign?

    Truth is this MOF had no choice but to shut down the printing press and then realign the supply to a sustainable economy. The failing I see is that they thought this could be done by austerity and taxation through BERT. At no point was growth focused on. So it’s like a store with a fall in sales trying to right the boat by cutting expenses only and not trying to increase sales at the same time.

    Don’t waste time discussing growth in sinklers reign cause you are basically trying to measure the return on a PONZI scheme that has now come home to roost.

    Like

  • @John A

    The exchange with John2 was to bring him to a Christian understanding but you hurried to the end. The talk about growth during the Sinckler period is political fluff talk about a statistical insignificant event along with the false environment you vividly outlined.

    Like

  • @ David

    My friend I am not blessed with your patience my apologies.

    What we need to look at now is how long will the rebalancing take without growth. We have tried using only taxation and austerity with no success in terms of growth. We must now include a growth plan while tightening up on our money pits which would in turn slow the outflow.

    Like

  • ok good to know that the growth the shoot up in q4 last year and the future predicted growth will be “real” growth .

    Like

  • he said FOR GOD SAKE GO AND READ THE CB REPORT. I posted the CB report to prove my point. now Mr Shifty talking bout non real growth/ a different story …… stupes

    Still waiting for the report that said the highest “non real ” growth was 0.5% in one year only

    Like

  • February 13, 2020 7:34 PM

    David stop playing wid me man!
    According to the CB , growth was due mainly to an increase in 2016. that the only I can tell you now.

    CORRECTION

    Growth was due to an increase in tourism in 2016

    Like

  • The silence on the Hyatt is deafening
    Which begs the question how much unemployment can barbadian households afford
    At the same time while PM is telling barbadians expect joblessness an open door policy for skilled Caricom workers has been extended from this govt
    Does govt really expect that skilled workers would come to barbados after hearing the latest joblessness news coming form the govt
    People seek greener pastures not drought whither grass

    Like

  • Your assistance please with an item Honourable Blogmaster

    Like

  • For the liars who purport that BERT was ONLY A STABILIZATION STRATEGY here is a comment from the BERT PRESENTATION

    “…Growth strategy

    Within the 26-slide presentation, only one slide was dedicated towards growth measures. Government is proposing five pillars of growth; (i) invest in a high-skilled knowledge-based economy, (ii) better mobilization of private domestic savings for investment, (iii) Government to become an enabler of growth, (vi) continued support of the economy’s mainstay of tourism and international business and, (v) diversifying new areas such as renewable energy, high-tech and software development…”

    Wunna must get real vex when people can google digital evidence of wunna RH lies!

    Like

  • That is why dumbass Hal, who spent decades in UK paying off slavemasters who enslaved his own ancestors, the most deserving negro who ever existed of that particarly british crime…hates google so much. Ya can’t make up shite just to look pretty in writing when google is around.lol

    Like

  • Does PM Mottley think Bajans to be fools? A government agency sells a piece of land to a developer for $4 million. The developer encloses the parcel of land but
    “During a recent address, Prime Minister Mia Mottley criticised the decision to erect a fence noting that “Bajans who want to go to the beach used to park there, and they cannot be prevented from going on one of the most magnificent beaches in Carlisle Bay, because a fence is there”.
    @barbadostoday.bb

    Liked by 1 person

  • The fence was removed and replaced with a chain. The public will have easier access however parking is still largely restricted. This is a similar to Blue Horizon deal when the public learned after the sale prime beach front land was included.

    Liked by 1 person

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