nhartnell@tribunemedia.net
The Bahamas has avoided the worst-case scenario of its economy shrinking by 26 percent in 2020 thanks to the global oil price slump and government s policy response, a report has concluded.
The Inter-American Development Bank s (IDB) Caribbean Quarterly Bulletin for the three months to end-December said the contraction in The Bahamas economic output was not as dire as first anticipated as it now forecast a 14.8 percent decline in gross domestic product (GDP). The worst-case scenarios of the simulations from March 2020... showed that the impact on the economy of The Bahamas, for example, could be as bad as 26 percentage points’ lower growth than if there had been no tourism shock, the report said.