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MEFD December 2017

Published Wednesday January 31st, 2018

Overview

Preliminary indicators suggest that domestic economic activity continued to improve gradually during the review period. Growth in visitor departures from the country’s main airport supported gains in tourism sector output, while foreign investment-related projects remained the dominant driver of construction sector activity. In labour market developments, the All Bahamas unemployment rate rose slightly as the gains in private sector hiring’s were countered by a reduction in Government employment and the addition of new graduates to the labour force. Reflecting an expansion in revenue and a reduction in expenditure, the fiscal deficit narrowed over the first five months of FY2017/2018. Further, bank liquidity contracted in December, owing in part an increase in short-term credit to the Government, while sustained public sector demand, contributed to the decline in external reserves.

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