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Barbados Opposition Leader Ralph Thorne Highlights Economic Challenges and Barriers to Investment in Budgetary Response
Opposition Leader Ralph Thorne highlights barriers to Barbados' economic growth, citing challenges like excessive debt, high taxes, and slow digitization in a critical 2024/25 budget address.
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Originally published by nationnews.com (opens in new tab)
Opposition Leader Ralph Thorne says, unlike statements made to the contrary, Barbados is not abuzz, nor is its economy performing well.
Thorne, who was delivering the reply to the 2024/25 Financial Statement and Budgetary Proposals in the House of Assembly, identified features that were prohibiting investment.
These include:
*Excessive debt
*High taxes
*Austere economic measures
*High costs
*High inflation
*Rampant crime
*Significant poverty
*Slow paced digitisation
*A demoralised public service
*Slow business facilitation
*Poor roads and infrastructure
*Marginalised churches and NGOs
*Corruption
*Eroded democratic traditions
*Slow paced economic diversification
(SAT)
