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Central Bank releases MEFD report – PDF

The Central Bank of The Bahamas has released its Monthly Economic and Financial Developments report covering January 2020. Read the full report here. 

Source:
Date:
Updated:
Central Bank of The Bahamas
Wednesday, March 4, 2020
Wednesday, March 4, 2020

The Central Bank of The Bahamas has released its Monthly Economic and Financial Developments report covering January 2020.

The report says preliminary indications are that the domestic economy exhibited mildly expansionary trends during the review month. Gains in the high value-added stopover visitor segment, mainly in New Providence and the Family Islands not damaged by Hurricane Dorian, supported the rise in tourism sector output.


Further, activity in the construction sector was fuelled by foreign investment-led projects, and to a lesser extent post-hurricane rebuilding works.

On the fiscal front, the government’s hurricane-related expenditure hike, overshadowed the increase in revenue collections, and contributed to a widening in the deficit during the first half of FY2019/2020.

In monetary developments, bank liquidity grew, reflecting an expansion in the deposit base and a decline in domestic credit. Similarly, buttressed by net foreign currency inflows from re-insurance and real sector activities, external reserves recorded healthy growth over the review month.

Read/download the full report here:

The Ministry of Tourism and Aviation, along with industry partners, attended the Routes Americas 2020 conference recently held in Indianapolis, Indiana.

The region's annual Caribbean Hospitality Industry Exchange Forum is slated to take place at Hyatt Regency Miami June 26-28, 2020. This year's conference theme is: Riding the Wave–Smart Actions in Uncertain Times.

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