Barbados Private Sector Believes It Could Be Two Years Before Sustainable Recovery Is Realized

• The Barbados Private Sector Association (BPSA) hopes the latest adjustments to the COVID-19 Directives mark the beginning of the end of harsh restrictions which severely affected the local business community over the last two years. 
• Association President, Trisha Tann, is pleased with what she believes is a clear indication of the Government’s intention to manage the pandemic and its economic effects much differently than before. 
• Highlighting the deleterious impact of the pandemic period on the business sector, Tannis acknowledged that the road to recovery would be long and winding. It is expected that full and sustainable recovery will still take another couple of years. This recovery will be dependent on the uptake of vaccine and a sustainable inclusive growth agenda that focuses on effectively, and holistically addressing the issues affecting the key growth sectors in Barbados, such as tourism and financial services. 
• Considering the recent move by the government, to lift restrictions, the association is of the view that the focus should now be on monitoring monetary policy to ensure that inflation remains at manageable levels.

(Source: Barbados Today)