NASSAU, BAHAMAS — The Opposition has accused the government of failing to execute a strategy for comprehensive economic growth, which has led to the stalling of the post-pandemic economic rebound.

Opposition Shadow Finance Minister Kwasi Thompson said in a statement that The Bahamas urgently requires a comprehensive plan to enhance economic growth and responsible public expenditure management.

“The Opposition notes with concern the report issued last week by the Bahamas National Statistical Institute (BNSI), providing the government’s official Gross Domestic Product (GDP) outcome for the calendar year 2023. According to the BNSI, the country’s economy grew by 2.6 percent in real terms in 2023, significantly below the anticipated 4.3 percent annual growth rate for the same period, as announced by the Prime Minister in his recent mid-term budget report in late February,” said Thompson.

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