Friday
Sep 10th
Home 
News Bahamas and Intl Articles Bahamas Economic Recovery Begins
News Bahamas and Intl Articles Bahamas Economic Recovery Begins | Bahamas Economic Recovery Begins |
|
|
|
| Written by Admin | |
| Sunday, 16 August 2009 | |
|
The Bahamas economy is projected to exit the recession in 2010, after a 18 month period of dramatic economic declines due to the Global Financial Crisis of 2008. Bahamian economists and financial experts say the economy will turnaround as the US and Int'l economies improve.
The global recovery is key for the Bahamas which relies on tourism as its top dollar earner. According to the Central Bank of the Bahamas report: "Indicators suggest that the global economy remained moribund over the first half of the year; however, in recent months, modest signs of a flattening in the economic downturn emerged, buoyed by the aggressive “stimulus” from monetary and fiscal packages, improved consumer confidence indicators, good housing starts numbers and corporate sector cost cutting measures, which supported stock market gains." The report added that the majority of Bahamian firms indicated they had to reduced staffing levels within the past six months, with "more than four-fifths signaling either no anticipated change or likely further reductionsin the months ahead." Furthermore, the Central Bank asserted that foreclosure filings surged by nine per cent. "Buttressed by a surge in credit to Government, domestic foreign currency credit expanded by $113.4million, a reversal from the $54.6million net repayment recorded during 2008," the report continued. "Net claims on the Government rebounded by $159.5million, from a $20.3million decrease a year earlier, on account of an increase in short-term advances. In contrast, claims on the rest of the public sector fell by $45.4million." |
|
| Last Updated ( Sunday, 29 November 2009 ) |
| < Prev | Next > |
|---|
- Jobs Forum
- 4 Baha mar and Offshore Banking Jobs pos (Admin)
- Banking, Accounting and Finance Jobs pos (Admin)
- 5 things that take 50% of your money (Admin)
- Most Valuable College Degree is.. (Admin)
- Chinese Govt approve Bahamar (Admin)
- Bahamas Accounting Scholarships availabl (Admin)
- BISX Lists $300M Government Bonds (Admin)
- Popular
- Newsflash
May 2010 Report: Preliminary evidence suggests that the domestic market continued to stabilise in May, aided by the ongoing, though still fragile, recovery in the global economy. Tourism output showed an improving trend, buoyed by gains in the key stopover segment of the market, while public sector projects provided some support for construction activity, which continued to be weighed down by sustained weakness in private sector investments. Read more...
Find a Job, Take Classes - restart your Career
Register, create your Resume. Sign up for Classes
Network with and discuss ideas with other professionals.
| Accounting & Banking Jobs | Classes & Workshops |
| - RBC Finco, UBS and FCIB Jobs | - Business Courses |
| - Accounting & Finance Managers | - Series 6 & 7 Workshops |
Find/Post a Financial Services Job or Register for a Workshop.
Career and Financial Services offered:
- Get help with your Resume or Business Plans. We also offer assistance securing loans and financing.
- Cash Flow & NPV Analysis: by MBAs and experts.
Member Login
Members Online
None
We have 7 guests online
Opinion Polls
Copyright © 2005 - 2010 BahamasFinancialServices.com.
Designed by Bahamians
