Grand Bahama’s current gloomy fiscal outlook has to more to do with policy as opposed to devastation caused by recent hurricanes,  this assertion was made by former Central Bank Governor Julian Francis.

Grand Bahama has been ravished by hurricanes over the past decade which has led to that island’s tourism sector receiving a huge blow.

Mr. Francis’  comments were prompted by a statement made by former Central Bank Governor James Smith, who during a roundtable discussion on a JCN Program said the trials and tribulations Grand Bahama  has had over the past decade factor into overall negative outlook of the Bahamian economy.

Mr. Francis  claimed “Grand Bahama to some extent and maybe not entirely,  is a self inflicted failure.

“We failed to innovate in our policy environment the ability to maintain the relevance of a Freeport.

“Freeport is an opportunity many economies don’t have,  certainly in this part of the world,” Mr. Francis said.

Last month former Minister Grand Bahama Dr. Michael Darville said the Grand Bahamian economy has taken a turn for the worse and is in a crisis, as countless businesses are closing their doors.

Data released in October by the Bahamas Hotel and Tourism Association (BHTA) confirmed the impact that the year-long closure of Freeport’s ‘anchor property’ Grand Lucayan has had on Grand Bahama’s tourism numbers, with the percentage declines matching the 59 per cent room inventory loss post-Hurricane Matthew.