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Year in Review 2020: COVID-19 sends business and economy into tailspin


by Marlon Madden
The year 2020 started out on a high for many businesses in Barbados, with soaring expectations and plans for several projects.
Despite starting the year with an economic decline, Government was also optimistic about several key development projects getting started, and favourable economic growth.
Then came the novel Coronavirus (COVID-19) pandemic, and expectations were immediately lowered, hopes dashed and new plans emerged.
Shortly after the pandemic started affecting the island, rising debt and overall decline in the economy quickly became the order of the day as the Government was forced to borrow more and spend more to implement several social protection programmes and business support schemes, even as revenues declined. ....

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