The Bahamas government has welcomed the latest report from the US-based global credit ratings agency, Standard & Poors, that acknowledged the country's robust recovery and the reduction in the fiscal deficit.
S&P in its analysis projected that Bahamian economic output, or gross domestic product, will grow by 1.8 per cent in 2024, slightly lower than the 2.3 per cent projected by the International Monetary Fund.
The Bahamian Central Bank predicted similar growth above two percent.
The US-based rating agency maintained The Bahamas' present 'B+' long-term credit rating together with a stable outlook.
It also gave credit for a robust recovery post-COVID and the government's fiscal consolidation efforts, which have slashed the deficit and contained debt.
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