The Caribbean Development Bank (CDB) is predicting the economies of its borrowing member countries will expand by around 2 per cent in 2019, a slight rise from last year’s performance which saw average growth of 1.9 per cent across the region.

The fastest growing Caribbean economies in 2018 were Antigua and Barbuda, Grenada and Guyana.

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The Ministry of Tourism in conjunction with Atlantis Paradise Island resort, the Golf Channel and Global Golf Management has launched the White Sands Golf Series promotional campaign.
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Deputy Prime Minister and Minister of Finance Peter Turnquest presented his Communication on the 2018 Fiscal Strategy Report during a debate in the House of Assembly February 6.

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Pictured: Prime Minister Dr Hubert Minnis speaks to the media February 5, 2019, while on a visit to Freeport, Grand Bahama. (BIS Photo/Lisa Davis)

The Cabinet, led by Prime Minister Dr Hubert Minnis, was in Freeport on Monday for the announcement of Carnival Cruise Line’s plans for a mega port in East Grand Bahama.

The Grand Port is expected to be completed in late 2021, and during the construction phase will employ some 1,000 people.

“We have several projects to discuss as it relates to Grand Bahama to take Grand Bahama even further,” said the Prime Minister.

The Grand Port project, he said, will give Bahamians the opportunity for ownership in the tourism and cruise industry.

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The Central Bank of The Bahamas Governor John Rolle says that he expects continued gradual improvement in financial sector indicators, as the economy expands further in 2019.

His comments come following the bank’s publication of the latest Monthly Economic and Financial Development report.

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Indications are that the domestic economy maintained its modest pace of growth in December, and was improved overall for 2018, according to The Central Bank of The Bahamas‘ latest economic report. Output was supported by ongoing gains in tourism, while foreign investment projects continued to fuel construction sector activity.

The economy’s uptrend was evident from strongly elevated foreign currency inflows through the banking sector and equally robust demand, evident in external payments for goods and services.

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Prime Minister Dr Hubert Minnis and Minister of Tourism Dionisio D’Aguilar were among special guests at the dedication ceremony of Holland America Line’s Nieuw Statendam cruise ship February 2, 2019.

Holland America Line is a division of Carnival Cruise Corporation & plc, the world’s largest leisure travel company.

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The government is looking to upgrade its digital platform with the help of a loan of $30 million from the Inter-American Development Bank for the purpose of financing the Government Digital Transformation to Strengthen Competitiveness Programme.

Prime Minister Dr Hubert Minnis tabled a Resolution to this effect in the House of Assembly January 30; it was subsequently debated and passed.

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The government’s Tourism Development Corp is looking to advance the tourism product in The Bahamas through promoting and encouraging Bahamian entrepreneurs and artisans.
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