Macro - Country Economic Forecasts - Bermuda
We forecast GDP to grow by 4% in 2024, and another 4% in 2025. Bermuda's budget for FY24/25 has supported our forecast of solid growth prospects for the near term. The budget, titled: 'Investing in our people and our future', contains many practical proposals in aiding the economy. The government recognises its historical underinvestment in its infrastructure and capital and plans to increase this to 2% of GDP, which is long overdue and the highest rate of investment since 2010. The 2% of GDP will be spread over upgrading roads and facilities such as hospitals and schools and will provide a positive medium to long-term outlook.
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