NASSAU, BAHAMAS — A governance reformer has warned the “biggest risk” to the country’s economic development in 2023 and beyond remains the current stock of debt and the management thereof.
Hubert Edwards, head of the Organization for Responsible Governance (ORG) economic development committee, noted that concerns over a US recession are real and could hold major implications for this nation.
He told Eyewitness News that The Bahamas going into 2023 could face headwinds that will negatively impact its ability to secure much-needed improved growth levels beyond historical averages.
Edwards noted that the US economy is expected to decline, performing within a band of 0.5-1 percent for 2023, with a mild recession beginning in late 2023 and a longer-term average annual growth rate of 1.8 percent.
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“Despite this expectation of decline the economic reconsolidation in The Bahamas which continues to move at a greater…
