$1.8 billion Boost to Barbadian Economy

• Barbados government is banking on the economy getting a big boost from more than $1.8 billion in infrastructural projects, some of which are already underway and others are being planned.
• While stating that the economy “has shown promising signs of recovery following the fallout from the pandemic and natural disasters in 2020 and 2021”, the government said “risks of a protracted global economic downturn and elevated global inflation” were a threat to the rebound.
• However, the government believes some of the risks would be “mitigated by the economic benefits to be derived from the commencement and continuation of several public and private sector capital projects and public-private partnerships (PPPs).
• These include a multimillion-dollar master plan for the modernisation of the ports of entry over the next ten years, the construction of a cruise terminal at Speightstown, redevelopment of the Shallow Draught Marina; development of a local yachting industry, and expansion and enhancement of the operations of the Grantley Adams International Airport.

(Source: Nation News)