thebahamasweekly.com - Dr. Minnis: Negative GDP Growth for Two Consecutive Years Bahamas continues on a downward path

From:TheBahamasWeekly.com

Bahamian Politics
Dr. Minnis: Negative GDP Growth for Two Consecutive Years Bahamas continues on a downward path
By The Free National Movement
May 6, 2016 - 11:28:53 AM

Dr. Hubert Minnis, Leader of the Free National Movement (FNM), issued the following statement on the negative GDP growth for the second consecutive year, confirming that we are in trouble (worrisome).

“Contraction.” That’s a big word for saying our country’s economy is shrinking for the second year in a row, but Bahamians don't need an economist to figure that out. They look around to see friends, neighbours, or family members out of work and losing their homes, empty store fronts, the Baha Mar an empty shell with no activity and rising crime. Our people are struggling yet this Government is focused on enriching their friends and allies, and not turning around our stagnant economy.

“Times are good for them but bad for the ordinary Bahamian.”

They are still rewarding lucrative government contracts to their friends and allies. They turn a blind eye to rampant corruption that infects every aspect of what they touch as our people continue to suffer.

Over the course of one year, we saw drastic drops in both our exports and our imports. On top of all this our debt is over 70% of the GDP. Our economic situation is going from bad to worse with no plan from this Government to turn things around. In fact their failures are only adding to our problems. Their reckless spending is siphoning money away from public services in order to service the debt.

“We must put leaders in place who will be more concerned with the lives of the ordinary people instead of just enriching the lives of their friends, families and allies. The Bahamian people deserve better.”