Barbados Budget Prosposal 2008

Mirroring the global slowdown, growth in the Barbadian economy slowed to an estimated 1.8% during the first six months of 2008, in comparison to the 4.2% average rate of expansion registered in the corresponding periods between 2004 and 2007.Lower rates of growth in both the traded and non-traded sectors contributed to this outturn. Average output in the non-traded sectors, the main engine of growth from 2005, grew by approximately 2.0%, substantially below the average first-half expansion of 5.1% recorded between 2005 and 2007.