January 5, 2022
Minister of Economic Affairs Michael Halkitis.
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Minister: ‘Nothing wrong’ with the Bahamas’ bonds
A Cabinet minister yesterday asserted “there’s nothing wrong” with The Bahamas’ economic and fiscal standing even though its long-term sovereign debt is trading at greater than 40 percent discounts with yields at 18-19 percent.
Retailer issues may be ‘resolved by Friday’
ECONOMIC Affairs Minister Michael Halkitis said he hopes that all issues between government and retailers are resolved by Friday.
Govt discussing how to bring relief to gas operators and consumers
THE Davis administration is currently discussing how best it can bring relief to both gas operators and consumers in response to rising fuel prices sparked by the Russia-Ukraine war, according to Economic Affairs Minister Michael Halkitis on Friday.
Minister: ‘Diversify within, not away, from tourism’
A Cabinet minister yesterday said the number of registered Bahamian businesses has increased by 37 percent over the past two years, adding: “We must diversify within, and not away, from tourism.”
Halkitis: We have no plans to raise VAT to 15 percent
THE Bahamas will not raise value added tax to 15 percent, Minister of Economic Affairs Michael Halkitis said yesterday.
Minister: Investors only ‘prefer’ short term Gov’t bonds
A Cabinet minister yesterday conceded that Bahamian investors are only interested in short-term government debt after a one-year issue was oversubscribed by 14 percent.
Deficit fall to smash target
The Government is poised to beat its full-year $858.6m deficit target by a wide margin after incurring just 28 percent of that sum during the 2021-2022 first half, it was revealed yesterday.
New govt ‘found no manuals or regulations in place’ relating to Public Procurement Act
MICHAEL Halkitis, Minister of Economic Affairs, said the Davis administration found in place no manuals or regulations relating to the Public Procurement Act when it came to power, suggesting this has affected the government’s ability to comply with the key legislation.
Gambler winnings tax ‘too complex’
The Minnis administration chose not to implement the tax on web shop patron winnings because it was “too complex” and could have driven gamblers back into the underground economy.
Betting shops new levy scrapped
ECONOMIC Affairs Minister Michael Halkitis said the government will do away with a patron tax on lottery winnings, although the levy was never implemented on gaming houses.
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