The Barbados Central Bank reports the economy has strongly rebounded from the impact of the covid-19 pandemic, with growth of more than six percent recorded for the first quarter of this year and that trend expected to continue for the rest of 2023.

Delivering his first economic review as Governor of the Central Bank, Dr. Kevin Greenidge, disclosed that Barbados has recorded eight consecutive quarters of economic growth led by a strong tourism rebound with unemployment down significantly, the foreign reserves strong and government’s fiscal position solid, while the rate at which prices have been increasing has slowed.

He says economic output is roughly back to pre-covid levels.

He notes the key role of tourism in the economic recovery and referenced the first quarter arrival numbers.

The unemployment rate said to be one of the lowest in recent times.

Economic growth of four to five percent is projected for the rest of the year depending on what happens in the global economy.

Central Bank Governor, Dr. Kevin Greenidge.