Wednesday, May 15, 2019

'Critical Surgery' For Bahamian Economy

Jeffrey Beckles
Tribune Business Editor

The Bahamas "must perform critical surgery on our economy" to return to the 3 percent-plus average GDP growth enjoyed pre-recession, the Chamber of Commerce's chief executive said yesterday.

Jeffrey Beckles told Tribune Business that 2018's 1.6 percent real GDP expansion, unveiled by the Department of Statistics on Monday, was "not sustainable" and inadequate to solve The Bahamas' pressing economic and social needs.

He added that the fact it had taken six years to return to 2012's economic output levels "spoke for itself" in terms of highlighting The Bahamas' economic "struggle" over the past decade since the 2008-2009 recession.

Arguing that three consecutive years of 1.6 percent GDP growth "won't do much for us", Mr Beckles said The Bahamas was well "past the time for talking" when it came to implementing real structural reform that removed obstacles to improving the cost and ease of doing business in this nation.  Read more >>