What is the general state of the economy?

Category: Economy

Answer:

The Bahamas competes successfully in the two largest global industries - tourism and financial services. Among the independent states in the Western Hemisphere, this nation with a population of just over 340,000 maintains the third highest per capita income, following only the United States and Canada. The Gross Domestic Product is over $7 billion.

It maintains investment grade status with international rating agencies Moody’s and Standard and Poor’s.

In the 2013/14 BUDGET COMMUNICATION, Prime Minister the Rt. Hon. Perry G. Christie said The economy has clearly turned the corner and The Bahamas can anticipate steady, ongoing growth and employment creation in the period ahead.

The Government has presented an action plan, over both the near-term and the medium-term, to restore public finances to a more desirable and sustainable position, affirming its commitment to healthier public finances.