top of page

News Report: COVID-19 deals ‘devastating shock’ to economy

NASSAU, BAHAMAS —The Bahamian economy will need time to recover from the ‘

devastating shock’ of COVID-19, according to a top private sector representative.

Jeffrey Beckles, the Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) chief executive, told Eyewitness News the country must manage its expectations.

Beckles said: “A lot of people are anxious in the business community and very concerned. This is an evolving environment we are in and it is changing every day. We have to focus on keeping as much life into our local economy while we work on strategies to get some foreign reserves.

“Right now the business community is concerned and many are afraid of going into another lockdown especially after coming off a lock down for several months.” He said: “The economy has taken a devastating shock. It will have to go through its therapy. Even if the cruise lines return it’s going to return to an environment where we need to get our legs back underneath us. I think we need to manage our expectations because it’s going to take some time to get our volume built up.

3 views0 comments
bottom of page