Report: SOEs still facing challenges

Some key State-Owned Enterprises (SOEs) continue to face financial challenges, with Government rescuing them with millions of dollars in unbudgeted transfers.

While reporting that SOE arrears have fallen, the Ministry of Finance says “reduced cash flow has increased SOE liabilities, some of which they are unable to service on their own”.

This includes liabilities at “technically insolvent” entities like the Transport Board, Caribbean Broadcasting Corporation (CBC) and Hope Inc., and those including the National Petroleum Corporation (NPC), Barbados Water Authority (BWA) and Queen Elizabeth Hospital that are “facing liquidity challenges related to settling accounts payables, arrears, and/or pension liabilities”.

The challenges are outlined in the Barbados’ Medium-Term Fiscal Framework 2025/2026 to 2027/2028 and the Mid-Year Review April to September 2024 report.

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