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Finance Minister Bob Richards has responded to criticism about the use of politically appointed consultants by Premier Craig Cannonier. At yesterday’s press conference, he said a review of consultants and contractors in the civil service is being con...

Government revenues plunged nearly ten percent in the third quarter of last year as the flagging economy continued to strangle the inflow of funds into the public coffers. But during the same July-through-September quarter, Government increased its c...

A researcher at the Bermuda Monetary Authority (BMA) says the global financial crisis has hit Bermuda harder than the rest of the world. Dr Marcelo Ramella is the deputy director of policy, research and risk at the BMA. He’s a CPA, has an MBA from t...

The economy is expected to shrink further this year as the Island continues to suffer through what some are saying is really a depression. Predicted further negative growth in 2013 means Bermuda is likely to endure a fifth year of recession. Economis...

Beer, wine and liquor seem to be selling better than ever in Bermuda despite the Island’s sluggish economy. According to the Government’s monthly Retail Sales Index, sales of liquor, along with food sales, drove retail sales 0.8 percent higher in Se...

Bermuda’s inflation rate fell below two percent in September for the first time since February 2010. The rate was down to 1.9 percent from 3.1 percent the month before. Still, year over year, the cost of good and services was higher — driven by a s...

Employment directly related to tourism increased 15 percent during 2011, according to Government statistics released yesterday. The Bermuda Tourism Satellite Account Report 2011 found that 4,199 people were employed in the sector last year, up from 3...

Bermuda suffered a third successive year of recession in 2011, according to data released yesterday by Government. Figures published by the Department of Statistics show that gross domestic product — the value of goods and services produced in Bermud...