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Friday, November 17 2017 @ 10:40 PM AST

Barbados economy grew 1.4% in first 9 mths of 2017: Central Bank

Key takeaways from Barbados Central Bank acting Governor Cleviston Haynes at a press conference on Barbados' economic performance in the first nine months of 2017, in Bridgetown this morning from around 11 am:

* Barbados Central Bank Governor says Barbados economy grew 1.4% in first 9 months of 2017 thanks in part to an increase in tourism in the first half of the year. Outlook for overall 2017 is positive.

* Barbados has to cut expenditure to bring in line with what the country can generate in revenue because Barbados does not have the resources to continue to run fiscal deficits: Haynes (Translation: Barbados Govt needs to stop spending more than it earns.)

* About 11% of Barbados energy needs are met with renewables: Haynes

* Barbados Central Bank Governor thinks its govt's intention to increase capital in CAF (Andean Development Bank) so it can borrow more US dollars for capital expenditure

* Barbados to raise interest rates?:

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