CAUGHT IN A TRAP Excerpts from Barbados Today - Straughans on Moodys Report Contradicting Central Banks Growth Estimates..... Straughn explained: “Given the domestic situation, there is the continued impact on VAT, the continued impact on consolidation tax and household spending and now the introduction of this new tax [ the Municipal Solid Waste Tax] although it is delayed somewhat, it is not conducive to doing business domestically. So I really don’t see, based on those things, growth in the absence of some foreign injected project.” He insisted that the current fiscal and monetary policies being pursued by the Freundel Stuart administration were hindrances to economic growth and attracting private sector investment. “The ability to attract foreign investment is a critical part of the puzzle, because unless we are attracting and earning foreign exchange then we are going to be forever in this problem and borrowing currency to pay public servants is not a strategy I would say is a workable one,” added Straughn.
Posted on: Thu, 31 Jul 2014 15:04:36 +0000
Trending Topics
Recently Viewed Topics
© 2015