Development must be measured by more than GDP, argues Barbados Minister

BARBADOS’ GROSS DOMESTIC Product (GDP) per capita rating should not be the only criteria for access to concessional financing from the international community.

This assertion came from Minister in the Prime Minister’s Office, Senator Darcy Boyce, as he addressed the Third International Conference on Financing for Development in Addis Ababa, Ethiopia on July 15.

Senator Boyce said that while Barbados was proud to be ranked 59 out of 187 countries in the Human Development Index 2013, thereby being categorised as a “high middle income country,” the use of GDP per capita alone as a development measure had proven inadequate and projected an incomplete picture of development challenges.

Read more at: Barbados Nation