Caribbean economist Marla Dukharan expects the Barbados economy to grow this year.
But Dukharan, who is chief economist of Barbados-based financial technology company Bitt Inc., said additional reforms were needed “to reverse that weak construction and investment that we are seeing”.
She gave the assessment in her Caribbean Economic Outlook 2020, which was released yesterday. It followed the International Monetary Fund’s (IMF) publication of its latest Global Economic Outlook earlier this week.
“The economy is expected to have contracted again last year . . . based on the reforms, especially the fiscal reforms, but we will likely see growth this year, albeit at a weak pace, not exceeding 1.8 per cent through 2024 as predicted by the IMF,” Dukharan said.