In a passionate parliamentary address, Barbados Finance Minister Ryan Straughn launched an extraordinary critique against fellow economists, accusing them of misleading public discourse about the nation’s budget and economic performance. The minister, delivering his first solo budget presentation, expressed profound disappointment with academic economists who he claims remained silent during Barbados’ economic crisis but have now become vocal critics.
Straughn, himself a former central bank economist and past leader of the Barbados Economic Society, challenged the credibility of university economists who awarded the government’s budget a “6 out of 10” rating. “This is not an exam: we are dealing with people’s lives,” he declared to the government-controlled House of Assembly, which concluded debate without opposition response.
The finance minister presented a robust defense of Prime Minister Mia Mottley’s administration, now in its third term since 2018. He asserted that Barbados’ economy has nearly doubled in size under their leadership, despite confronting multiple crises. Straughn rated the government’s performance as “A-Class,” emphasizing that no objective assessment could justify a B grade given the economic transformation achieved.
“We have been priming this economy and this society for transformation since we came in from day one,” Straughn stated. “The reason we’ve been able to respond to repeated crises is because we’ve built buffers within the economic system.”
During his address, Straughn also clarified several budget measures: increasing interest-free vehicle loans for public officers to $150,000 for electric/hybrid vehicles and $75,000 for gasoline/diesel vehicles. He announced that the National Insurance and Social Security Service will provide workers over 50 with annual statements detailing their contributions and projected pension benefits. Additionally, the minister promised clearer guidelines for local manufacturers regarding import duty exemptions on certain food items.