Country Economic Forecasts - Barbados
An economic environment characterised by inadequate levels of international reserves, weak investor confidence and surging public sector debt resulted in a 0.4% contraction in GDP in 2018. But we reaffirm our view that GDP will be flat in 2019 before growth of 0.5% in 2020 as domestic reforms under the Barbados Economic Recovery and Transformation (BERT) programme bear fruit. In addition, the October 2019 agreement with external creditors will bring an immediate reduction in debt, thereby helping growth and investment prospects.
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