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Friday, September 22 2017 @ 08:12 PM AST

IMF: The Bahamas economy to grow 1.75% in 2017 after -0.25% in 2016

The International Monetary Fund in its report on The Bahamas today:

Real GDP growth is projected to pick up to 1¾ percent in 2017 and 2½ percent in 2018 and to stabilize at around 1½ percent over the medium term. The baseline scenario is predicated on an expected acceleration in U.S. growth in 2017, the phased opening of Baha Mar, and related construction activity. Post-hurricane reconstruction and a pickup in FDI-financed private investment should further boost growth and employment with spillovers to private consumption. Improving economic conditions should facilitate a faster reduction in commercial banks’ NPLs, freeing up additional balance sheet space to support a pickup in credit demand.

For the full statement, visit: http://www.imf.org/en/News/Articles/2...-123-35868

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