![]() Our economy has been now growing for the last four quarters, but the truth is that we are not where we were at the end of 2019,” the economist said. “The definition of a recession is after two consecutive quarters of economic fallout. Haynes was therefore cautiously optimistic yesterday while reporting first quarter economic growth of 11.8 per cent and predicting doubledigit growth for 2022. Not when the economy still has not returned to its pre-COVID-19 levels, and the war in Ukraine is a major threat to future growth and threatens to increase the cost of living in Barbados. Recession over Central Bank governor cautiously optimisticīY DEFINITION Barbados is now out of a recession, but Central Bank Governor Cleviston Haynes is in no mood to celebrate.
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