NASSAU, BAHAMAS — A regional economist is projecting that the Bahamian economy will grow by four percent this year, driven by the country’s tourism sector and reconstruction.
Marla Dukharan, a Caribbean economist and formerly Royal Bank of Canada’s (RBC) top regional economics expert, made the projection in her Caribbean monthly report.
“We expect growth of four percent in 2023, backed by reconstruction and tourism, with economic activity below its 2019 level until 2025,” Dukharan stated.
Central Bank Governor John Rolle recently revised his 2023 economic growth forecast to the three percent range from four percent.
During the regulator’s 2023 second-quarter economic briefing, Rolle noted: “The Central Bank still projects some recovery-laced, above average real GDP growth in the three percent range for 2023. However, potential annual growth beyond 2023 is resettling closer to the two percent range.”
During the Central Bank’s first quarter briefing, held at the beginning of May, Rolle projected that the country’s gross domestic product (GDP) growth “will moderate closer to four percent” in 2023, a projection which was at the time in line with International Monetary Fund (IMF) and World Bank forecasts.
Loading ...
