Private Sector Insiders Warn of Business Collapses and Price Hikes as the Covid-19 Pandemic Persists

The covid-19 pandemic has had an adverse effect on the private sector of Antigua and Barbuda. A number of businesses were forced to close their doors, lay off workers or shorten work hours and with this going on for almost two years, officials say that the sector could soon collapse. Immediate past president of the Antigua and Barbuda Employers Federation, Leslie Salmon reported that he does not believe that businesses can survive for much longer

Meanwhile, the Global supply chain is slowing down at this very moment due to labor shortages and other covid-19 pressures driving up the prices of goods and services. Salmon, who is also managing the director of Food Brokerage Services believes that Antigua and Barbuda will soon feel effects, although he says that food products will be less affected.

“We don’t produce anything here, we import, so obviously the prices going up over there will just be translated here. So it will be imported inflation. The items that are more short will be higher, so the luxury items are going to cost more.”

The Executive Director of the Antigua and Barbuda Chamber of Commerce Martin Cave, who agreed with the sentiments that the cost of goods will ultimately increase in the coming months says he is mainly concerned however about the price of fuel. 

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