Barbados: Recent Economic Developments
May 10, 1995
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This report reviews economic developments in Barbados during the 1990s. To stem the economic decline, in April 1991, the government tightened fiscal policy. Measures were announced to cut the central government overall deficit from 7.3 percent of GDP in 1990/91 to about 3 percent of GDP in 1991/92, including increases in taxation and fees and cutbacks in current and capital expenditure. However, the measures were insufficient, especially since they were not supported by a tightening of other policies, and economic performance continued to deteriorate in the first half of 1991/92.
Subject: Agricultural commodities, Commodities, Consumption taxes, Income, Income and capital gains taxes, Labor, National accounts, Taxes, Wages
Keywords: Agricultural commodities, balance of payments, Caribbean, central bank, Consumption taxes, CR, foreign exchange, Income, Income and capital gains taxes, income tax, incomes policy, ISCR, North America, private sector, profit sharing, real GDP, tax rate, trade policy, Wages
Pages:
132
Volume:
1995
DOI:
Issue:
032
Series:
Country Report No. 1995/032
Stock No:
1BRBEA0011995
ISBN:
9781451805932
ISSN:
1934-7685
Notes
This report on recent economic developments in Barbados was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country. In releasing this document for public use, confidential material may have been removed at the request of the member.
