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Economy ‘rebounding’ after years of weak/negligible growth

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#Bahamas, April 4, 2018 – Nassau – The Bahamian economy continues to rebound after many years of weak if not negligible growth, Prime Minister, Dr. the Hon. Hubert A. Minnis told Parliament Tuesday (March 20).  The economy grew by 1.8 per cent in 2017.  This year, a 2.5 per cent growth is expected.

Wrapping up debate on the Mid-Year Budget in the House of Assembly, Prime Minister Minnis said the Bahamian economy shrank from $10.7 billion to $10.2 billion during the years 2012-2016, a decline of $500 million or 4.7 per cent.  Prime Minister Minnis said the key driver of that decline was a sharp reduction in fixed capital formation, or investment, which over the same period fell by more than $600 million.

“That comprised a decline in spending on buildings and infrastructure of over $400 million and a fall in spending on machinery and equipment of some $200 million,” Prime Minister Minnis said.

In contrast, total consumption expenditure grew by almost $140 million and exports rose on the order of $175 million.  Imports rose by $250 million.

Prime Minister Minnis said these developments “are especially worrisome for it is generally acknowledged that buoyant investment is critical to stronger, sustained, long-term growth.”  The Prime Minister said Administration officials have been working hard since being elected to office ten months ago to tackle the country’s economic and fiscal challenges.

“In the ten months since coming to office, we have begun to implement our vision for the future, with concrete action plans underpinning this vision.  The key messages that were presented in the Mid-Year Budget Statement reflect both the work that we have undertaken to date, and our approach to tackling the economic and fiscal challenges going forward.

“It is evident for all to see, that our domestic economy, while rebounding gradually from many years of weak if not negligible growth, is still performing well below its potential,” Prime Minister Minnis added.

Prime Minister Minnis said if one was to take a look at the Bahamian economy over the past five years – both in absolute terms and relative to other economies – the economy has been poor.  The Bahamian economy “shrank in real terms” in 2013 by 0.6 per cent. It contracted again in 2014, by 1.2 per cent.

“The year 2015, was even worse with a further decline in economic activity of 3.1 per cent,” Prime Minister Minnis continued, “finally, in 2016, our economy stopped shrinking, but posted only negligible growth of 0.2 per cent.”

Prime Minister Minnis said over the years, there was “little surprise” with the relatively close correlation between the rate of growth of the U.S. economy and The Bahamas’ rate of economic growth as the USA “is by far our most significant trading partner.”

“However, following the great recession of 2008-2009, that correlation has broken down and the performance of The Bahamas’ economy has been much weaker than that of the U.S. As well, as was documented in the last IMF Article IV Staff report, our economic performance has also lagged significantly behind that of both the other Caribbean tourism intensive countries and non-Caribbean Small States.”

Prime Minister Minnis said “based on experience and looking ahead” Administration officials must focus the country’s policy interventions on influencing the key factors that underpin the rate of potential growth, including the quantity and quality of capital, “if we wish to successfully and meaningfully, enhance the potential growth rate of our economy.”

“On the capital front, it is vital that we achieve higher rates of saving and investment domestically as well as promote The Bahamas as an attractive locale fort strategic foreign direct investment.

“To those ends, we are striving to enhance the business and investment environment, primarily by moving to ease the burden and cost of doing business in The Bahamas,” Prime Minister Minnis added.

By: Matt Maura (BIS)

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Mother’s Pride Headlines Bahamian Takeover at Sixers-Heat Clash in Miami

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The Bahamas, March 30, 2026 – The voice of a proud mother captured the spirit of a nation Monday night, as Bendra Rolle shared heartfelt reflections on the overwhelming Bahamian support for her son, VJ Edgecombe, during the Philadelphia 76ers matchup against the Miami Heat in Miami.

“The patriotic support and scenery at my son, VJ Edgecombe’s NBA game… was overwhelming,” Rolle said in a statement issued following the game. “The arena in Miami was lit. Bimini and the Bahamas showed up and showed out.”

Her words come amid what has already been widely described as a remarkable showing of national pride, with Bahamians traveling in large numbers to South Florida to witness the young guard’s continued rise. For Rolle, however, the moment extended far beyond basketball.

“Beyond VJ’s basketball talents, I’m so moved by his magnetic personality and personal journey to inspire and excite an entire nation—our beloved Bahamas,” she said. “I thank God for VJ’s humility and for his hunger for greatness. He never forgets how far God has brought us.”

While the Sixers did not secure the win on the night, Edgecombe delivered a solid individual performance, finishing with 13 points and five assists. He made an early impact on the game, showing confidence and poise before foul trouble disrupted his rhythm, but still managed to leave his mark in meaningful minutes.

The game itself evolved into a cultural showcase, with Bahamian flags waving throughout the arena and chants ringing out in support of Edgecombe. Much of that presence was bolstered by a coordinated travel push from Bahamasair, which helped facilitate fan travel and added to the electric atmosphere in Miami.

Rolle said the emotional weight of the moment was deeply felt by her family, as they witnessed firsthand the unity and pride of the Bahamian people.

“Thanks and love for the tears and overwhelming joy on Monday, Bahamas,” she expressed. “The Bahamian flags were love, loud, and proud. On my own behalf, VJ, and the entire family, I am ever grateful for the indescribable experience.”

Her closing words underscored what many have described as the true victory of the night—not the final score, but the powerful display of national pride and support surrounding one of The Bahamas’ rising stars.

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Bahamasair Backs Surge as Bahamians Flood South Florida for V.J. Edgecombe Showdown  

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PHOTO BY SIXERS NATION

 

Bahamian pride is already on full display in South Florida, with fans arriving in strong numbers ahead of tonight’s highly anticipated NBA matchup featuring VJ Edgecombe and the Philadelphia 76ers.

Helping to power that movement was Bahamasair, which rolled out a strategic promotion to facilitate travel, turning the game into a full-scale national showing.

And the celebration started early.

A “Bahamas Invades Florida” pre-party over the weekend set the tone, with Bahamian fans, DJs and supporters converging in Fort Lauderdale to build momentum ahead of the game.  The event, marketed as a major cultural gathering, has spilled into Miami, where a strong Bahamian presence is expected inside the arena tonight.

This is no ordinary road game.

The Sixers enter the matchup healthy and are favoured to win, adding to the anticipation surrounding what many expect to be a standout performance by the Biminite guard.

Edgecombe, the third overall pick in the 2025 NBA Draft, has been electric in his rookie season — delivering high-scoring performances and quickly establishing himself as one of the league’s most exciting young talents.

But beyond the stats, it’s the moment that matters.

With South Florida just a short flight away, Bahamians have seized the opportunity to show up in force — flags, energy and all — transforming the game into something far bigger than basketball.

A national turnout.
A rising star.
And a night where the Bahamas is expected to be felt — from tip-off to final buzzer.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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Bahamas Warns Travellers as UN says Middle East Conflict May No Longer Be Contained

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The Bahamas, March 18, 2026 – Twenty days into the latest Middle East escalation, the United Nations is warning the conflict is spreading beyond its original battlefield, as the death toll rises and governments around the world issue urgent travel advisories — including The Bahamas.

In a March 17 statement, the UN Secretary-General’s office said the war must stop and called for all Security Council resolutions to be respected, noting with concern that countries in the Gulf continue to be targeted, raising fears of a wider regional confrontation.

The current round of fighting began February 28 with strikes involving the United States, Israel and Iranian-linked forces, followed by missile and drone attacks across Iraq, Lebanon and parts of the Gulf.

International monitors report more than 1,300 people killed in Iran alone, with additional casualties reported in Lebanon, Israel and Gulf states. U.S. officials confirm at least 13 American service members have died since the escalation began, while reports indicate additional senior Iranian military leaders were killed in recent strikes.

Despite the growing violence, several NATO countries including the United Kingdom, France and Germany have not joined offensive operations, instead calling for diplomacy to prevent the conflict from widening.

The Bahamas Ministry of Foreign Affairs has also issued a travel advisory, warning Bahamian nationals to avoid travel to Israel, Palestine, Iran and Lebanon and to reconsider travel across much of the Gulf region due to the risk of sudden escalation, flight disruptions and security threats.

Officials say Bahamians already in the region should remain vigilant and be prepared for rapidly changing conditions.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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