The Barbados Central Bank reports the economy grew by 4.1 percent in the first quarter of the year driven by what the Governor Dr. Kevin Greenidge describes as an extraordinary performance by the tourism sector.

This is the twelfth consecutive quarter of economic growth as the Barbados economy showed a consistent upward trajectory over the past three years.  Year-end growth is expected to be around four percent.

Dr. Greenidge, delivering the economic review for the period January to March, said the foreign reserves have increased to record levels, unemployment is down, tax revenues are up and the rate of inflation has slowed.

Dr. Greenidge noted the significant role of tourism in the economic performance.

The rate of growth is expected to continue for the rest of the year.

Central Bank Governor Dr. Kevin Greenidge.