In her contribution to the debate on the 2016/2017 Budget, Hope Strachan, Minister of Financial Services, spoke to the important contribution of the sector to the Bahamian economy, noting that it accounts for more than 15 per cent of GDP.
In her contribution to the Debate on the 2016/2017 Budget, the Hon. C.V. Hope Strachan, Minister of Financial Services, spoke to the important contribution of the sector to the Bahamian economy, noting that it accounts for (a) more than 15% of the GDP of The Bahamas, (b) more than 20,000 jobs directly and indirectly, representing more than 13% of total employment, and (c) generates substantial government revenues of approximately $200 million and 19% of the tax base. She pointed out that the sector contributes to the Bahamian economy as a whole by providing access to global capital markets and facilitating investment opportunities that would not otherwise be attainable, and which encourage entrepreneurial activities that foster economic growth.
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