March 31, 2022
ECONOMIC Affairs Minister Michael Halkitis.
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The Government is focused on “telling the story about The Bahamas” and its post-COVID recovery to ensure international investors and markets retain confidence in the country’s debt, a Cabinet minister said yesterday.
ECONOMIC Affairs Minister Michael Halkitis said government intends to push for a minimum wage increase in the private sector in the wake of rising costs in the country.
SOME relief to the public and incentives to promote homeownership will be some of the features of the Davis administration’s first full budget presentation today, according to Economic Affairs Minister Michael Halkitis.
ECONOMIC Affairs Minister Michael Halkitis insisted yesterday that the government was not “callous”, despite its decision to approve price increases of certain breadbasket brands.
ECONOMIC Affairs Minister Michael Halkitis said gas retailers and consumers can expect to hear several announcements from the government in a few weeks relating to possible gas relief.
Minister for Economic Affairs Michael Halkitis doubled down yesterday on “no margin increase” for petroleum dealers, arguing that it would go to the consumer and it would be “counterproductive”.
ECONOMIC Affairs Minister Michael Halkitis estimates that The Bahamas stands to gain between $28m and $32m in revenue in overflight fees this fiscal year.
ECONOMIC Affairs Minister Michael Halkitis maintained on Friday that removing value added tax on breadbasket items is not feasible at this time, noting the tax regime was a necessary initiative meant to reduce government borrowing and improve the nation’s overall “fiscal health.”
ECONOMIC Affairs Minister Michael Halkitis said the government is planning to meet with the Bahamas Petroleum Dealers Association today to address their concerns about rising fuel prices, among other things.
A Cabinet minister yesterday voiced optimism that The Bahamas’ economic performance will “surpass” that of 2019 by year-end after it was revealed that COVID-19 wiped out a decade’s worth of growth.
ECONOMIC Affairs Minister Michael Halkitis anticipates that government borrowing will be “significantly less” for the upcoming fiscal year compared to last year due to increased revenue amid the country’s rebound from the COVID-19 pandemic.