Speaking to reporters on Tuesday, Governor of the Central Bank of Barbados, Dr Marion Williams revealed that growth in the third quarter of this year may signal that Barbados is coming out of recession.
Reviewing the economy's performance for the year to the end of September, Dr Williams explained that the 1.4% growth spurt between July and September was occasioned by an improvement in the tourism sector, and other, smaller upturns in wholesale and retail activity.
However, she announced that there is still a great deal of uncertainty facing the Barbadian economy, especially given the possibility of an US war with Iraq:
'In addition to trade liberalisation and globalisation, which have severely affected the manufacturing and agricultural sectors, Barbados could be adversely affected should there be a military invasion of Iraq,' the Central Bank Governor warned.
All things being equal, however, Dr Williams predicted that the improvement will continue throughout the last quarter of 2002.
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