Barbados and other borrowing member countries (BMCs) of the Caribbean Development Bank (CDB) urgently need to boost their budgeting processes to improve their chances of battling climate change while seeking to achieve the Sustainable Development Goals (SDGs).
The CDB’s director of economics Ian Durant recommended this action to regional countries yesterday.
He advised BMCs to evolve from just budgeting for programmes to embrace performance-based budgeting, where they were measuring the outcomes of their spending.
Durant was speaking during a CDB seminar on Budgeting For Sustainable Development, held as the bank continued its 52nd annual meeting in Turks and Caicos under the theme Measure Better To Target Better.
The economist said the CDB was working to help member countries close the gap to achieving the SDGs, an objective which had regressed mainly because of the economic fallout from the COVID-19 pandemic. (SC)
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