BRIDGETOWN, Barbados, Advocate – HAD Government’s Medium Term Fiscal Strategy (MTFS) not been implemented, the fiscal adjustment which now has to be made of four per cent or close to $400 million, would be times higher.
This assertion from Minister of Finance and Economic Affairs, Chris Sinckler, who believes the shift being seen right now was reflective of what was happening in the global economy.
“As you know, we had a bad tourism season, so the follow-through impact on the economy was major; so you had a level of activity to generate the type of cash revenues. Therefore, if that is the case, and you want to maintain your trajectory, you’ll have to make adjustments in terms of your expenditure. That is what we are looking at,” he revealed recently following last week’s One Day National Consultation on the Economy at the Hilton Hotel.
