Barbados: Real GDP to grow by 2 per cent
2011-05-13 23:47 -An IMF mission visited Barbados from May 10-13 for a staff visit. Following the severe impact of the global economic crisis on Barbados, the economy is beginning to recover as growth started to pick up in early 2011. Real Gross Domestic Product (GDP) is projected to grow by about 2 percent this year mainly due to higher tourist arrivals, signaling the onset of a recovery from the slow growth in 2010 and the two earlier years of negative growth. Notwithstanding downside risks, including from the uncertain global environment and concerns about inflationary pressures due to higher world food and fuel prices, the team expects growth to continue on a steady path, supported by a recovery of tourism and financial services activity.