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A drag

Bureaucratic inefficiencies hurt economy, says Worrell

The Social Partnership has been urged to create and implement strategies that will help improve productivity among the workforce.

Governor of the Central Bank of BarbadosDr DeLisle Worrell made the point during his presentation at a recent Social Partnership meeting on the country’s progress with the strategy for economic adjustment and growth, a copy of which was obtained by Barbados TODAY.

Governor of the Central Bank Dr DeLisle Worrell

Governor of the Central Bank Dr DeLisle Worrell

Worrell said one of the “major” challenges that Government faced was with the implementation of measures to improve efficiency of the public service.

“In recent reports by the World Economic Forum the Barbados Government’s bureaucratic inefficiency is consistently cited as a major drag on the country’s competitiveness and growth prospects,” Worrell said.

He added that the report also showed that second to the bureaucractic inefficiencies were poor work attitudes in the labour force, with 70 per cent of workers not fully engaged in their work.

“All that is necessary is for each worker to be fully engaged in their work. If each of us is engaged, we will not only be helping our country’s growth and our own future prospects, but we will also find our lives more enriched by having developed a passion for what we do,” said Worrell.

“There is a need to improve labour productivity throughout the economy. A gap has opened up between the cost of labour and the productivity of the average worker over the past two decades. The Social Partnership must devise and implement deliberate strategies that will improve productivity,” urged Worrell.

He said Government would need to barrow to finance its deficit, which stood at about 6.6 per cent of Gross Domestic Product (GDP) at the end of March.

And while pointing out that forecast expenditure of $1.7 billion on hotels, tourism projects and infrastructure was confirmed over the next three years, Worrell said another $1.5 billion in projects was “being discussed”.

“The Barbados Government has established its commitment to fiscal consolidation, reducing the deficit from 12 per cent of GDP in 2013 to under seven per cent last year and setting a target of four per cent this year. However, the deficit must be further reduced in future years, in order to reduce the ratio of debt to GDP.

“Government will need to borrow to finance the deficit, adding four per cent of GDP to the debt stock this year. With real growth expected at just about one per cent and very low inflation, the GDP will likely increase by less than four per cent, and there will therefore be an increase in the debt to GDP ration,” he explained.

He said over the last two and a half years Barbados had offered the world “a textbook illustration” of how a small economy that depends on foreign exchange for its prosperity adjusts when those foreign exchange levels declined.

Worrell noted that growth was being led by the products and services that the island produced at internationally competitive prices including tourism and related services, international business and financial services, rum, chemicals and other exports, as well as green energy.

“The foreign exchange earned and saved by these activities provides the finance for the wide range of imports the economy needs,” he said.

5 Responses to A drag

  1. Veroniva Boyce
    Veroniva Boyce August 7, 2015 at 6:10 am

    ‘A Drag’ the same man that said he ain’t losing any sleep re: economy, in other words he don’t care. There must of been a shortage in he wage packet. Delies got the gall to state 70 per cent of workers not fully engaged in their work. I hope he included himself and the Cartoon Characters (government) in that figure. Pot calling the kettle black. Them lead by example by showing a don’t care attitude, obviously, it will rub off onto the citizens.

  2. Thomas Katt
    Thomas Katt August 7, 2015 at 10:14 am


  3. Donna August 7, 2015 at 10:27 am

    Treat people fairly and with respect in the workplace and you would see better results. Stop treating staff as adversaries but treat them as part of a team which you lead towards a common goal. Performance management should be conducted in the right spirit and appraisals as part of that process. Treat people as whole people and not human resources to be exploited.

  4. Danny Clarke Colombian
    Danny Clarke Colombian August 7, 2015 at 6:53 pm

    Ossie Moore n his dementia mind speaks again

  5. Heather Cole
    Heather Cole August 7, 2015 at 9:23 pm

    Is he saying that the methods to achieve efficiency will lead to massive layoffs? Is he justifying the layoffs that Chris Sinckler’s IMF program requires? Is he also justifying the need to borrow more money? One thing I know for sure is that his and by extension the government’s only solution to the country’s economic crisis is now at its last resort.
    It is a sign that increasing taxation is no longer an option. One would have though that in a presentation to the social partnership he would have alluded to the lack of transparency that is missing in the union between the social partnership and his administration.


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