Energy support not indefinite, Greenidge warns

The Mia Mottley administration cannot indefinitely shield consumers from high energy costs, Central Bank Governor Dr Kevin Greenidge has warned, urging businesses and households to reduce their reliance on fossil fuels.

At his third-quarter economic review, he told reporters: “When shocks happen, of course, the fiscal authority will step in like how the government has done with the pandemic, like how the government has done with the oil prices and provide support. But given the frequency of those shocks, behavioural change must happen. You can’t do it forever.”

Full coverageBarbados Government Defends Its Approach to Cost-of-Living Crisis6 reports

Since the March Budget, the government has been hedging against world market prices, cushioning consumers from rising energy costs driven by the US-Israel-Iran war.