Macroeconomic recovery continued in The Commonwealth of the Bahamas in 2022. Real gross domestic product (GDP) expanded further by 14.4%, despite inflationary pressures. Fiscal and debt positions improved, in GDP terms, while external balances were strengthened, bolstered by a significant increase in export earnings. The financial sector remained stable and well capitalised.

The economy is expected to further strengthen in 2023, albeit at a slower pace. GDP growth is projected to taper to a rate of 3.0%, with positive knock-on effects on external, fiscal, and monetary balances. However, risks to the outlook are tilted heavily to the downside due largely to the global impact of the ongoing Russia/Ukraine war, and the continuing vulnerability to natural hazards.