Barbadians urged to prepare for a challenging 2024 amid economic uncertainty

In a sobering forecast for 2024, Barbadians are being urged to prepare for economic turbulence marked by rising living costs, inflation, shortages, and lingering uncertainty.

Shipping woes amplify cost burdens

Leading the charge in these cautionary predictions is Professor Don Marshall, the Head of the Sir Arthur Lewis Institute of Social and Economic Studies. 

Marshall emphasized the likelihood of increased expenses due to shipping challenges, which are expected to ripple through the local economy. 

Notably, these challenges are poised to not only inflate prices but also dampen the appetite for consumer goods among Barbadians.

2024: The true test for Barbados’ growth

Marshall underscored the significance of the upcoming year, stating that 2023 must be viewed in the context of Barbados’ ongoing post-pandemic recovery.