Cash flow problems to continue
Barbadians are being advised that Government’s cash flow problems will likely continue into the next financial year.
That disclosure came from Minister of Finance Chris Sinckler as he delivered the 2015/2016 Estimates of Revenue and Expenditure in the House of Assembly yesterday.
“The existing cash flow challenges are likely to continue well into the next financial year as the flow through of actual cash resources and the anemic growth of current revenues continue,” he said.
However, Sinckler said the situation would likely improve by the third quarter of the next year.
He assured that Government has been devising appropriate strategies to contain the challenges caused by the cash flow issues and address the build-up of arrears in the system.
The latest figures put the arrears or payables owed by the Government to its partners in the private sector and individual Barbadians at around $250 million.