IMF: The Bahamas economy to grow 1.75% in 2017 after -0.25% in 2016
Wednesday, September 13 2017 @ 10:45 PM AST
Contributed by: AleemKhan
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