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Barbados Deficit Dropping!

 

With the Central Bank economic review mere days away, Prime Minister Freundel Stuart is already reporting a revised fiscal deficit for the 2017/2018 financial year.

Addressing the first Barbados Chamber of Commerce and Industry (BCCI) luncheon at the Hilton Barbados Resort today, Stuart said the fiscal deficit was expected to be reduced by a further three per cent.

“With the deficit closing last fiscal year 2016/2017 at around 6.8 per cent, it is anticipated that this gap will be closed by a further three per cent, therefore bringing the actual outturn very near to, or even surpassing, the intended target of 4.4 per cent set during the Budget estimates debate last year,” he said.

During last year’s presentation of the Estimates of Expenditure and Revenue, Minister of Finance Chris Sinckler had announced that Government was projecting $4.5 billion in spending for the financial year 2017/2018 and revenues of $2.9 billion.

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