Caribbean Holiday Guide caribbean vacation Inter-Caribbean Travel Caribbean Tours Caribbean Events Caribbean entertainment Caribbean Accomodation Caribbean Holidays Caribbean travel
Barbados  site map and contact site map contact Caribzones
Island Search


Ezine Business

2005 Archive

Ezine Business 2004

Barbados Nation News click to enter

Click to contact Caribzones

The Barbados Advocate
    home >> caribbean >> barbados >> ezines >>

BARBADOS - Business Ezine 2005

GOVERNOR of the Central Bank, Dr Marion Williams,

Compliments of the Nation News

GOVERNOR of the Central Bank, Dr Marion Williams, is adamant that wages in Barbados must be kept down.

However, she said that despite the need for wage restraint, "anomalies" in the system should not be ignored.

In her first comments since the controversial issue of wage increases of up to 20 per cent for politicians and top civil servants following a regrading exercise in the public service, Williams said yesterday ". . . that commitment to wage restraint does not mean that if there are certain anomalies which present themselves, that we should not deal with them". < Read more>

Governor of the Central Bank of Barbados, Dr Marion Williams,Once again, tourism will be the limb on which Barbados’ economy will grow. Governor of the Central Bank of Barbados, Dr Marion Williams, made this clear at last week’s Press conference, which was called to review the economy’s performance in 2003 and to present the forecast for this year.

Dr. Williams said economic activity would expand by between three per cent and three-and-a-half per cent this year, on the strength of increased growth in tourism, construction and wholesale and retail activity.

by Marva Cossy

Compliments of the Nation News

Central Bank Governor Dr Marion Williams yesterday graded Barbados’ economic performance during the first quarter of this year as “very good”. The economy grew by 4.2 per cent.

Dr. Williams told reporters: “This is the largest increase in a first quarter . . . for a decade”.

It also marked the eighth consecutive quarter of positive movement for the economy, which slid into recession during the April to June period of 2001 and continued on that downward trend until the third quarter of 2002 when a 1.4 per cent improvement was registered.

Dr. Williams told the Press that given the record over the last ten to 12 years, an average economic growth of about three to three-and-a-half per cent was usually quite sustainable for Barbados.

“Sometimes, if you go over three-and-a-half per cent, unless you can change the structure of production and consumption, you can encounter difficulties,” the Governor explained.

Dr. Williams, who was speaking at a Press conference to review the January to March performance, linked the most recent economic improvement to an estimated 7.1 per cent upturn in the traded sectors, mainly tourism. But she said this was supported by broad-based growth averaging around three per cent in the non-traded sectors.

The Governor’s report also revealed that tourism, which led the economy’s expansion, grew by 14.4 per cent, the highest first quarter growth rate in ten years.

She attributed this to ongoing economic recovery in Barbados’ main tourism source markets.

The sector also benefited from the use of Barbados as a homeport for cruise liners, increased airlift capacity, and the third cricket Test match between the West Indies and England, Dr. Williams said.

Sugar production fell by 9.4 per cent due to the late start of the crop; non-sugar agriculture and manufacturing also declined.

The wholesale and retail sector recorded a robust growth of 4.8 per cent, which Dr. Williams said was directly related to a rise in demand resulting from the strong tourism out-turn.

Output in construction rose by 3.3 per cent and inflation, propelled by rise in food prices and transportation, rose by 1.5 per cent.

Information compliments of the Nation News


Caribbean Cricket

Caribbean Golf

United Caribbean
Caribbean Real Estate
Caribbean News
Caribbean Art  
Caribbean Fashion  
Caribbean Food & Recipes
Conservation & Environment
Holistic Health & Beauty
Caribzones Advertising

Connect to a cause
United Caribbean Trust
Aja's Sierra Leone relief
Born Free Foundation
FREE Gentil
Forest Stewardship  
Hawksbill turtles
Carriacou environmental
Endangered whales
Animal Shelters


Barbados Holidays

Click on photo icons and enjoy a variety of holiday options.

Barbados sailing holiday sail the west coast of Barbados Caribbean Watersports Barbados diving sailing and windsurfing surfing on the east coast Barbados diving holiday west coast dives turtle diving reef conservation
Barbados hiking holiday great Bathsheba walks along the railway Barbados birdwatching holiday visit the Graeme Hall bird sanctury for a wonderful day birdwatching Barbados safari island tour travel the rugged interior
Barbados weddings Barbados holistic holidays Barbados horticultural holidays

Barbados Music and Entertainment

Barbados bars and rum shops Barbados festivals Crop Over carnival Barbados music and entertainment plus info on Barbados food and drink barbados entertainment and events barbados bars
Barbados food and drink Barbados bars and rum shops Barbados festivals Crop Over carnival Barbados music and entertainment plus info on Barbados food and drink Barbados restaurants west coast luxury dining barbados food and restaurants
Barbados nightclubs and bars visit rum shops to meet local Bajans Barbados music and entertainment barbados culture

Click on the dropdown to visit the islands of the Caribbean and the lands of the Americas.

Home  |  Site Map  |  Terms and Conditions  |  Contact  |  Request Form 

Advertise on Caribzones


book accomodation

Copyright ©  2008 All rights reserved. Advertise I I Contact I Disclaimer

Site Map contact Caribzones Inter-Caribbean Travel Caribbean Tours Caribbean Events Caribbean live music Caribbean Accomodation Caribbean Holidays St. Peter St. James Christchurch St. Michael St. Joseph Design by Sioure Technologies