Sunnyjohn
08-06-07, - 05:27 PM
The Bahamas GDP grows 25% in one year
Mon Aug 6, 2012 3:42PM EDT
The Bahamas is reporting another year of record economic growth for the 4th straight year in a row. Official in the Auditor's General Office and Ministry of Finance reported yesterday that GDP grew and astonishing 50% in one year.
With the removal of all political parties from office and the establishment of a executive committee to run the country in late 2007, the Bahamas has seen a turn around in its fortunes.
The spiraling murder rate was ground to a near halt with only 3 murders reported in the 5 years. The traffic fatality rate also dropped 50% with the removal of 25% of the cars from the city of Nassau and a new 24 hr public transit system.
The executive committee was able to effectively quell the arguments in the House of Assembly. Maintaining all personal liberties, the country's economy was diversified and restructured. Tourism was removed as the only pillar and joined by Financial services, substainable agriculture ecological development and substainable energy sales and technology.
The education revamped to include a greater emphasis on Math, Science and culture.
Three years ago the country became the largest producer of electricity from wind and solar sources. The sales of electricity to the US, Canada, the West Indians and South America saw a record $32.8 billion brought into the treasury.
Starting at an estimated $5Billion GDP in 2007, the executive committee was able to double group rates each year, while controlling inflation. The GDP stand at $160 Billon Dollars
World official including those in China and the US are marvelling at the progress the tiny nation of 300,000 has made.
"We are very proud of how far we have come, " say committee member Ieinatief Jones. "It was tough, but removing the old US Dollar peg and revamping our antiquated system of customs duties was important. We shored up the people to weather the storm and then went and got it done."
"No longer do the Bahamian people have their hands out waiting for largesse at election time. It's all about how can I open my own small business." said a elated Jones.
"The civil service was purged of workers who would not work creating a new era for out people."
Last year the Bahamas bought a stake in Goldman Sachs and various interest in over 15 international companies in an attempt to solidify it's position as a global powerhouse.
~~
Mon Aug 6, 2012 3:42PM EDT
The Bahamas is reporting another year of record economic growth for the 4th straight year in a row. Official in the Auditor's General Office and Ministry of Finance reported yesterday that GDP grew and astonishing 50% in one year.
With the removal of all political parties from office and the establishment of a executive committee to run the country in late 2007, the Bahamas has seen a turn around in its fortunes.
The spiraling murder rate was ground to a near halt with only 3 murders reported in the 5 years. The traffic fatality rate also dropped 50% with the removal of 25% of the cars from the city of Nassau and a new 24 hr public transit system.
The executive committee was able to effectively quell the arguments in the House of Assembly. Maintaining all personal liberties, the country's economy was diversified and restructured. Tourism was removed as the only pillar and joined by Financial services, substainable agriculture ecological development and substainable energy sales and technology.
The education revamped to include a greater emphasis on Math, Science and culture.
Three years ago the country became the largest producer of electricity from wind and solar sources. The sales of electricity to the US, Canada, the West Indians and South America saw a record $32.8 billion brought into the treasury.
Starting at an estimated $5Billion GDP in 2007, the executive committee was able to double group rates each year, while controlling inflation. The GDP stand at $160 Billon Dollars
World official including those in China and the US are marvelling at the progress the tiny nation of 300,000 has made.
"We are very proud of how far we have come, " say committee member Ieinatief Jones. "It was tough, but removing the old US Dollar peg and revamping our antiquated system of customs duties was important. We shored up the people to weather the storm and then went and got it done."
"No longer do the Bahamian people have their hands out waiting for largesse at election time. It's all about how can I open my own small business." said a elated Jones.
"The civil service was purged of workers who would not work creating a new era for out people."
Last year the Bahamas bought a stake in Goldman Sachs and various interest in over 15 international companies in an attempt to solidify it's position as a global powerhouse.
~~