Barbados - Public finance



Revenues are derived mostly from import duties, internal consumption taxes, and income tax. Public sector deficits grew during the 1980s as the economy weakened. The international recession of 1990–91 magnified problems of debt service and debt management. By the end of 1990, the national debt was9.5% higher than that of 1989. By 1991, the fiscal deficit had become unsustainable; in February 1992, the government began a stabilization program in fiscal policies with assistance from the IMF. By 2000, the deficit problem had been resolved.

The US Central Intelligence Agency (CIA) estimates that in 2000 Barbados's central government took in revenues of approximately $847 million and had expenditures of $886 million. Overall, the government registered a deficit of approximately $39 million. External debt totaled $425 million.

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