The projecting the Bahamas future level of national output!
The method of projecting the future level of national output can be checked by other ways of forecasting. e.g..extrapolation of past figures. If the projected national income shows a lower growth rate than actual income did in past. It may be that the saving ratio has been underrrestimated or the the capital -output ratio overestimated, which this COVID -19 economy if the ratios are right, a slowing down of Bahamian economic growth must be expected. Another check would be to divide the projected national output by the number in the active labour force, to obtain an index of the average productivity of labour in the future. If this index dose not rise as much as the past trend, the estimates of parameters should again be reconsidered. If they are correct, inefficiency or unemployment must be expected in the future,unless measures are taken to prevent them. The rate of growth of the Bahamas economy will be somewhat less than shown by preceding calculation, if the gestation period of the investment envisaged is large,
“Sourcing “ investments where only a particular (Labour -intensive ) process is transferred to the Bahamas economy the more capital -intensive process being retained in the Bahamas the requisite equipment, skills, and Russia and D facilities exist. The best -known example of this is the electronics industry, especially the semiconductor section, where the demanding specifications, the rapidly changing technology, and requirements be mentioned in the Bahamas up coming budget 2020 we must develop new linkages or the capabilities of local enterprise in technological innovation industry moving our economy depends on tourism industry post COVID -19 pandemic crisis in the Bahamas. Have a direct local activity the conceptual is very practical we start in the education system science programs is the key to success change the Bahamian economy to promote the industrialization of our new economy by providing assistance with investment, technology and quality control and recommendations policies for increasing linkages to our educational system.
The nature of the linkages between between technology culture and the new the local manufacturer section and the seriousness of foreign exchange and investment constraints on development will be influenced significant by the structure of rural demand for both inputs and consumer goods especially established a fee zone in Nassau ,emphasizes of technical sophistication is the key to success new Bahamian industrialization .innovation that are mainly instrumental in increasing output and productivity. We need a historical innovative 2020 budget. Change is coming Bahamas “innovative “ we have a new powerful economy ..
