BRIDGETOWN, Barbados, Oct 30, CMC – The Central Bank of Barbados (CBB) Wednesday said despite global economic uncertainties and the negative consequences of Hurricane Beryl, Barbados has maintained a steady path of economic growth and resilience
It said that the real gross domestic product (GDP) advanced by 3.9 per cent during the first nine months of 2024, driven by key sectors such as tourism, business services, and construction.
CBB Govenor, Dr. Kevin Greenidge delivering the bank’s review of the local economy for the first nine months of this year, told a news conference that inflation moderated, unemployment fell, and the country’s external position remained robust, marked by the highest end-September international reserves level, equivalent to 31.2 weeks of imports of goods and services.
The CBB is predicting that the Barbados’ economy is set to maintain its growth momentum through year-end, with real GDP expanding by approximately 3.8 per cent.
(Details in Business section)
CMC/2024