• Narrow screen resolution
  • Wide screen resolution
  • Auto width resolution
  • Increase font size
  • Decrease font size
  • Default font size
  • default color
  • red color
  • green color

BahamasFinancialServices.com

Friday
Sep 10th

Register, create your Professional Profile, Browse our Jobs Database and start networking, discuss business ideas with other professionals today.

BahamasFinancialServices.com Forums  


Boardwalk :: Forum List Forums & Message Boards Jobs, Financial Services and Business Topics
Admin
Admin

Admin
Posts: 103
graph
Karma: 0  
Click here to see the profile of this user 		Bahamas Monthly Economic report - 2009/12/22 15:44 Review the latest Central Bank Report

Published: Thursday December 3rd, 2009

Despite signs of a modest pickup in the pace of the global recovery, domestic economic conditions remained relatively subdued during October, reflecting anemic consumer spending and sustained weakness in tourism output and foreign investment led construction activity. However, indications are that the softening in domestic prices, noted since the latter half of 2008, was sustained during the period. On the fiscal side, Government’s deficit expanded during the first three months of FY2009/10, as sluggish private sector demand adversely impacted revenue collections, amid a marginal decline in total expenditure. In monetary developments, the seasonal, although more constrained, rise in foreign currency demand resulted in a contraction in both liquidity and external reserves.

Tourism activity for the nine month period showed cruise-led 5.5% gains in overall arrivals to 3.3 million, reversing last year’s 6.1% decrease. However, preliminary indications are that real output contracted, based on the sustained weakening in the higher value added stopover segment of the market, as evidenced by the 12.8% decline in air traffic. Disaggregated by ports of entry, visitors to New Providence grew by 7.4%, with the 19.2% expansion in sea arrivals offsetting the 8.2% reduction in air passengers. Similarly, Family Island tourists rose by 4.4%, associated with a 10.7% advance in the dominant sea segment, which negated a 23.4% falloff in air arrivals. In contrast, an 11.6% gain in sea arrivals was broadly countered by a 27.0% downturn in the air segment, resulting in visitors to the Grand Bahama market declining marginally by 0.4%.

Government’s fiscal position deteriorated further during the first quarter of FY2009/10, as the deficit widened by 67.1% ($40.6 million) to $101.0 million, over the previous period. Total revenue contracted by 14.8% to $267.8 million, owing to a 15.7% decline in tax receipts, which was broad-based among the categories. Occasioned by lower collections from fines, forfeitures and administrative fees, non-tax revenues also fell by 4.8%. Aggregate expenditure was 1.6% lower at $368.7 million, due to a 3.5% reduction in current outlays linked to reduced consumption spending and transfer payments. Conversely, infrastructure investments boosted capital spending by 31.5% to $37.5 million.

http://www.centralbankbahamas.com/news.php?cmd=view&id=16030
  | | The administrator has disabled public write access.
Boardwalk :: Forum List Forums & Message Boards Jobs, Financial Services and Business Topics

Joomlaboard Forum Component 1.1.3 Stable
Two Shoes M-Factory
Advertisement
 

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:

Member Login

Members Online

None

Opinion Polls

What will be the Economic Event of 2009/2010?