The Research and Planning Unit within the Ministry of Finance and Economic Affairs is the planning authority of Barbados. The mission of the Research and Planning Unit is to provide expert policy and technical advice based on a sound framework for economic and social planning through the conduct of economic and social research, policy analysis, rational economic and social planning, technical cooperation coordination and the compilation and analysis of statistical information.
Its core functions regarding planning are the coordination of national economic and social planning through the following:
- Preparation of National Development/Strategic Plans.
- Preparation of Medium Term Economic Strategy.
- Monitoring the implementation of programmes, projects and strategies contained in the Medium Term Economic Strategy (MTES).
- Developing Development and Planning Methodologies.
- Working with other government agencies to build out and execute their Medium Term Economic Strategies.
- Assist in the planning of National Public/Private Sector Consultations on the Economy.