Central Bank of Barbados: Economic Outlook Favourable

  • The outlook for the Barbados economy has become more favorable over the past 12 months. The public finances have improved, the international reserves have recovered and the financing pressures created by high indebtedness have started to ease.
  • Indications are that investor confidence is returning, but as expected, economic activity for 2019 has been sluggish. Growth from the tourism sector has buoyed economic activity, but faster project implementation is required to push growth above the forecasted range of 0% to 0.25%.
  • With the strengthening of the macroeconomic environment, an anticipated further pick-up in tourism and acceleration of investments, the current forecast for 2020 is in the range of 0.75% and 1.25%.

 (Source: Central Bank of Barbados)