Strong fiscal and economic policies continue to drive economic turnaround

Deputy Prime Minister, Peter Turnquest.

NASSAU, BAHAMAS – The country is on the road to recovery, and the most recent Central Bank report provides further evidence that the Government’s fiscal and economic policies are leading the way in the turnaround.

“We are experiencing moderate growth in a stable economy, and given the size of the turnaround required, that is a good sign. The full recovery of the economy is still ahead of us, but we are confident that with our initiatives to stimulate growth, we will continue to see a strengthening economy,” said K. Peter Turnquest, Deputy Prime Minister and Minister of Finance.

“As we capitalize on the robust tourism performance, the steady flow of foreign direct investment, and the expansion of the small business sector, we will build more momentum overtime and speed up recovery. We absolutely must remain disciplined and steadfast in containing public expenditure growth. That is critical to strengthening recovery efforts, and achieving stronger, more sustainable and resilient growth,” said Turnquest.

The Government’s economic growth agenda recognizes the important contribution of Micro, Small and Medium Sized Enterprises (MSMEs) to employment generation and inclusive growth.

“This is why we are firmly committed to our partnership with the Small Business Development Centre (SBDC), which has already inspired over 2000 Bahamians in Nassau, Exuma, Grand Bahama and other islands to register for training and business advisory programmes,” said Turnquest.

“During a press conference on Wednesday, we look forward to sharing new details about the range of game-changing financing options now available to small businesses that will enhance the work of the SBDC in empowering scores of young, Bahamian entrepreneurs.”