Prime Minister Mia Amor Mottley has told the House of Assembly of covid-19 delivering a catastrophic blow to the Barbados economy which lost 2 billion dollars in activity forcing the government to borrow a billion dollars to help the country get by.
Miss Mottley, who is the minister of finance, economic affairs and investment, was speaking as the estimates presentation continued in the lower chamber.
She said the pandemic has triggered probably the single largest drop in economic activity since world war two with massive disruption of businesses and loss of jobs.
Miss Mottley disclosed that on top of the close to 40 thousand people that lost their jobs last year thousands more filed for unemployment benefits just last month.
But Prime Minister Mottley says the situation would have been far worse had the government not moved quickly to restructure the national debt soon after coming into office.
And, she outlined a plan for public sector projects to spur economic activity and create jobs.
Prime Minister Mottley also disclosed that Barbados will be spending 25 million dollars to procure covid-19 vaccines and stated that so far about 60 thousand people, or approaching 25 percent of the population have already been inoculated.