Standard and Poor’s Affirms Barbados 'BBB-/A-3' Ratings; Outlook Remains Stable

Created 10 May, 2011
Categories General Press Release
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Standard and Poor’s recently reported that Barbados' economy was slowly recovering from the global financial crisis and that and it expected the country’s GDP to grow by 2% this year.

According to the international rating agency, fiscal measures passed in December 2010, together with constrained expenditures, are helping to stabilize the fiscal accounts. “The general government deficit narrowed to 5.6% of GDP in 2010, and we project it will decline further, to 4.6% of GDP, in 2011” the company stated.

Standard and Poor’s affirmed its 'BBB-/A-3' local- and foreign-currency ratings on Barbados and said that the outlook remained stable, reflecting its expectation that the economic rebound will continue and that the external accounts will remain stable.

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