Ingraham: Bahamas Economy on the Mend

The Bahamas’ prime minister on yesterday predicted that the islands’ economy will grow between two to 2.5 per cent this year, buoyed by more foreign investment, construction projects and tourist arrivals.

Economic conditions finally stabilised last year on the tourism-dependent islands, which were battered by the global recession, Hubert Ingraham told a conference of business leaders in the capital of Nassau.

“I am pleased to advise that there is every expectation that 2011 will see marked improvement,” he said.

However, lingering unemployment will likely keep the Bahamas a year away from starting a more rapid ascent toward prosperity.