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Central Bank releases economic developments report for August

Monthly Economic and Financial Developments report for August released by the Central Bank of the Bahamas indicates that the economic showed modest gains. Download the entire report here. 

Source:
Date:
Updated:
Central Bank of The Bahamas
Thursday, October 6, 2011
Thursday, October 6, 2011

Initial indications for the economic developments for the month of August released by the Central Bank of The Bahamas are that the gradual improvement in the domestic economy was upheld, supported mainly by ongoing construction sector projects and more modest gains in the tourism sector.

Given the weakness in real sector activity, high unemployment persisted, while inflationary pressures were relatively benign, although impacted by the recent firming in global oil prices.

The fiscal situation for the first month of FY2011/12 showed a contraction in the overall deficit, while monetary developments continued to feature high and stable levels of bank liquidity and external reserves, amid soft private sector demand.

The Monthly Economic and Financial Developments report is compiled by the Central Bank to provide the public with more frequent information on its economic surveillance activities.

Download a PDF of the Central Bank’s Monthly Economic and Financial Developments Report August 2011 here.

Minister of Foreign Affairs Brent Symonette (left) and Cuban Ambassador Jose Luis Ponce Caraballo shake hands after signing an agreement for the Maritime Delimitations between the Commonwealth of The Bahamas and the Republic of Cuba at the Ministry of Foreign Affairs on October 3. (BIS Photo/ Kristaan Ingraham)

Conference of Caribbean Chief Justices and Heads of Judiciary, along with the second biennial conference of the Caribbean Association of Judicial Officers (CAJO), attract leading members of the local and regional legal community to Nassau. Pictured: Chief Justice Sir Michael Barnett gives the welcome remarks during the opening ceremonies of the Conference of Caribbean Chief Justices and Heads of Judiciary and the second Biennial conference of the Caribbean Association of Judicial Officers. (BIS Photo/Patrick Hanna)

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