Moody's: Deficit could hit 636m

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August 28, 2017

 

The Bahamas’ 2016-2017 fiscal deficit could rise as high as $636 million or 7 per cent of GDP, Moody’s has warned, due to the Christie administration’s pre-election spending binge.
The rating agency, in an August 25 ‘credit opinion’ that accompanied its decision not to downgrade the Bahamas’ to ‘junk’ status, suggested that the ‘red ink’ could amount to $136 million more than the Government’s own $500 million estimate - a difference equivalent to 1.5 percentage points of gross domestic product (GDP)...

The Bahamas’ 2016-2017 fiscal deficit could rise as high as $636 million or 7 per cent of GDP, Moody’s has warned, due to the Christie administration’s pre-election spending binge.

The rating agency, in an August 25 ‘credit opinion’ that accompanied its decision not to downgrade the Bahamas’ to ‘junk’ status, suggested that the ‘red ink’ could amount to $136 million more than the Government’s own $500 million estimate - a difference equivalent to 1.5 percentage points of gross domestic product (GDP)...

 

Click here to read more at The Tribune

News date : 08/28/2017    Category : About Bahamians, Finance, Tribune Stories

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