Investment Policies Spur Economic Expansion of the Bahamas

The strong promotion of the government´s investment policies has been attributed directly to an improved Bahamian economy in 2004, and will also contribute substantially to a 3.5 percent growth in real terms to the economy in 2005, as suggested by the International Monetary Fund.

Cynthia Pratt, Deputy Prime Minister and Acting Prime Minister, in The House of Assembly earlier this week, revealed this during the 2005/2006 Budget Communication address.

"The Government has been very active and vigilant in promoting the attractions of The Bahamas for high-quality investment," said the Deputy Prime Minister. "The commencement of a period of strong growth is due in very large measure to the success of the Government´s investment policy."

Mrs. Pratt also said in her address that the beanstalk trend in the economy is likely to continue in subsequent years. "There is every likelihood that these strong rates of growth will be sustained in the years after 2005 because of the timing of further productive capital inflows, some of which have already been approved and will come on stream in those years."