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Economy set to grow by 2.5 per cent this year

The Bahamian economy is set to grow by about 2.5 per cent during the course of the year, according to government figures, signalling its best growth in ten years. 

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TheBahamasInvestor.com
Thursday, April 26, 2018
Thursday, April 26, 2018

The Bahamian economy is set to grow by about 2.5 per cent during the course of the year, according to government figures, signalling its best growth in ten years.

“This may be he best growth since the recession of 2008,” Prime Minister Dr Hubert Minnis said while addressing the opening session of the CEO Network Conference April 25, at Melia Nassau Beach resort.


“Tourism is doing very well. Both Atlantis Paradise Island and Baha Mar are doing exceptionally well. Our economic prospects are improving, but we must do more to boost jobs and opportunity. Our public finances are improving though we are not out of the woods.”

“The recovery of our national prospects and our economy has begun and has taken hold.”

Prime Minister Minnis said the administration also has a number of exciting tourism and investment projects slated for Grand Bahama.

“We continue to promote investment opportunities in the Islands of The Bahamas. It bears repeating: the restoration of the economy of Grand Bahama is critical for the economic recovery of The Bahamas.”

Prime Minister Minnis told the gathering that his administration has an ambitious infrastructure programme slated for a number of the islands of The Bahamas.

Capital development and infrastructure, Prime Minister Minnis continued, are “vital” for the growth of tourism in the Family Islands. A number of key infrastructure projects will be announced during the upcoming Budget Debate.

Prime Minister Minnis said a number of “very promising investment prospects” are on the horizon that will boost economic growth and jobs. These, he said, will be announced in due course.

Minister of Transport and Local Government Frankie Campbell (pictured) has announced that the Bahamas Maritime Authority will hold its first Bi-Annual Maritime Week, May 6-11.

The Bahamas Ministry of Tourism and Aviation hosted a small press trip of US and Canadian editors from top meeting and incentive travel publications to drive increased arrivals from business travellers. The Ministry curated an itinerary to visit new meeting spaces in Nassau and Eleuthera, April 9-12.

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