The Government of Barbados awarded the Ministry of Finance and Economic Affairs with the task of formulating the Barbados Medium-Term Growth and Development Strategy 2013-2020 (BGDS). The Division of Economic Affairds organized a National Consult process on June 27th 2013.
The result of the consultation process was used as an essential input for designing the BGDS 2013-2020. The Document was approved by the Parliament, under the administration of Barbados Democratic Labor Party (BLP).
In the implementation process of the BGDS, The Ministry of Finance and Economic Affairs will be responsible for ensuring the acomplishment of goals and targets. “To this end, this Strategy will require strategic and decisive leadership and management at all levels by Government in full collaboration with the private sector, labor, civil society and regional and international development partners". The efficient and effective execution of this strategy will require stakeholder buy-in from representatives of the following agencies and groups, to implemented other important programs such as Economic Empowerment Plan (EPP) aligned to the Medium Term Strategy.
This process is still underway.
Monitoring and Evaluation
In this phase, a monitoring matrix should be built. It will become useful to bring clarity and guide the process. This matrix will outline the specific measures, responsible agencies, timeframe and key targets to be met.
Also, quarterly targets will be proposed which will be outlined with the corresponding agencies.
Connection with sectoral planning
This plan include a working together between the Government and different sector such as agriculture, tourism, international business and other capital works programmes.