The Barbados economy grew by 4.5 percent in the first half of this year driven by what the Central Bank describes as very strong growth in tourism and, year-end growth for 2024 overall is expected to be around four percent.

Delivering the economic review for the first six months of the year, Central Bank Governor, Dr. Kevin Greenidge, reported improvement in all the economic fundamentals and growth in all sectors with unemployment declining, the rate of inflation slowing, the foreign reserves remaining strong, tax revenues increasing and the debt to GDP ratio declining.

He detailed the strength of the key economic indicators.

According to the Governor, the economy remains on track to close the year up four percent.

Central Bank Governor Dr. Kevin Greenidge