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Strengthening tourism, FDI bolsters economy – PDF

Indications are that the domestic economy sustained its modest improvement in January, reflecting the strengthening in tourism sector output, combined with foreign investment-led construction activity, according to The Central Bank of The Bahamas’ Monthly Economic and Financial Developments report for January 2018. 

Source:
Date:
Updated:
Central Bank of The Bahamas
Wednesday, March 7, 2018
Wednesday, March 7, 2018

Indications are that the domestic economy sustained its modest improvement in January, reflecting the strengthening in tourism sector output, combined with foreign investment-led construction activity, according to The Central Bank of The Bahamas’ Monthly Economic and Financial Developments report for January 2018.


The report says that “given higher global oil prices, the consumer price index increased in 2017, a reversal from the slight decline in the prior year.”

According to the report, government’s budgetary operations featured a reduction in the deficit over the first half of FY2017/18, amid higher tax receipts and a decline in capital spending.

Monetary sector developments featured a build-up in both liquidity and external reserves, buoyed by the government’s external borrowing activities.

View the full report here.

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A Bahamian delegation led by Minister of State for Grand Bahama Kwasi Thompson is currently on a trade mission to Washington, DC, with the aim of attracting more business and investment to The Bahamas.

During his contribution to the 2017/18 Mid-Year Budget Debate yesterday, Deputy Prime Minister and Minister of Finance Peter Turnquest said that the International Monetary Fund's decision to upgrade its forecast for economic growth in The Bahamas is in line with the brighter economic outlook globally and especially in the US.

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