President of the National Union of Public Workers, Walter Maloney, does not think that Barbados is out of the woods.
He expressed this view as Barbadians await the presentation of this year’s Budget tomorrow afternoon by Minister of Finance and Economic Affairs, Chris Sinckler.
“We were in a holding pattern during the past five years where we tried to stabilise the economy. I do not think that we are out of the woods. The recession has not ended, certainly not for our major trading partners. I would hope that the Budget will look at spurring growth within the economy with the emphasis being on small and medium sized enterprises,” Maloney said.
Commenting on employment, especially within the public sector, Maloney expressed the hope that there would be no fall out, “but if there was it would be at a minimum, taking into consideration that there are other tools that can be used to minimise the fall out”.
Making a call for the restructuring of the economy, the union president said: “What is important is that there is a need to seriously restructure our economy and by extension our society.”