NASSAU, BAHAMAS- The Opposition contends that the country’s economic recovery has lost momentum due to what they describe as additional tax burdens and bureaucratic roadblocks imposed by the Davis administration.
Opposition Shadow Finance Minister Kwasi Thompson in a statement the recent highlighted the economic growth projection by the Central Bank, which forecasts the country’s economic growth at around two percent for 2024.
“This is roughly in line with the recent lowered projections from the World Bank and less than half of the Caribbean regional average,” Thompson stated.
“The economic recovery in The Bahamas has quickly lost momentum, which is not surprising given the additional tax burdens, fees, and other bureaucratic roadblocks that this administration continues to impose directly on Bahamian small businesses and entrepreneurs.”
Thompson added, “This PLP administration continues to ignore the need for mid-term budgetary corrections, despite being warned for months that adjustments to their budget would be necessary.”
Meantime the Opposition continues to voice concern over the government’s announcement regarding a $500 million commercial loan secured via an Inter-American Development Bank (IDB) guarantee and is pressing the government for full disclosure on that arrangement.
