On Monday 14th March 2022 the Prime Minister of Barbados, the Right Honorable Mia Amor Mottley delivered her government’s Budget Proposals and Financial Statement for the fiscal year 2022 – 2023, being their first since the onset of the Covid-19 pandemic. In her view, Barbados had successfully navigated several challenges over the past two years including “the worst ashfall in 119 years [...], the worst pandemic in 102 years and [...] the first hurricane to hit our land in 66 years”, due in no small part to the economic policies put in place by the present government since taking office in 2018. She pointed to the fact that “[t]oday, after the worst of Covid, Soufriere and Elsa, [...] Barbados’ reserves stand at $3.058 billion on 11th March 2022 or the equivalent of 40 weeks of imports”. The focus therefore of her presentation and proposed budgetary measures was to “share the burden and the benefits” that have accrued to the Island “as equitably as possible”.
Tricor Caribbean’s Commentary on the Budget Proposals 2022 provides a snapshot of the main fiscal measures announced.
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