June 1, 2023
Economic Affairs Minister Michael Halkitis. (File photo)
Stories this photo appears in:
Minister pledges no spending binge before general election
A Cabinet minister yesterday pledged that the Government will maintain fiscal discipline and not engage in runaway public spending in a bid to help it retain office at the upcoming 2026 general election.
Gov't targeting predatory 'payday lender' crackdown
The Securities Commission is working with the Government to develop legislation that cracks down on “payday lenders” offering loans at predatory interest rates, a Cabinet minister disclosed yesterday.
Halkitis: Surplus is to pay down debt, not for new spending
ECONOMIC Affairs Minister Michael Halkitis yesterday sought to clarify the government’s projected $75m surplus for the 2025/2026 fiscal year, emphasising that the surplus is a direct result of fiscal discipline and will be used solely to reduce the national debt, not for additional spending.
Halkitis: Govt to lose $30M annually due to VAT reduction
Economic Affairs Minister Mr Michael Halkitis revealed that the government will forgo an estimated $30 million in revenue due to a reduction in the value-added tax (VAT) rate on all food sold in food stores from ten percent to five percent.
Hope $300m deal ‘opens door’ on nature financing
Environmental advocates are voicing hope that the Government’s first $300m ‘debt-for-nature’ refinancing will “open the door” for further such initiatives “to propel” The Bahamas towards true climate resiliency.
$500m swing in forecast prompts call for answers
The Government has completely overturned its medium-term Budget projections by forecasting a more than half-a-billion dollar swing that will drive it to a $448.2m fiscal surplus at end-June 2026.
Minister ‘cautiously optimistic’ over $900m carbon credits
A Cabinet minister yesterday said the Government is “cautiously optimistic” that The Bahamas could earn $900m per year from monetising its seagrass and mangrove carbon sinks.
Halkitis: Govt working to combat crime
ECONOMIC Affairs Minister Michael Halkitis said government is working aggressively to counteract negative international reports about the country’s soaring murder rate and believes that its crime-fighting efforts will soon bear fruit.
Gov’t ‘betting on ability’ to prove the IMF wrong
The Government is “betting on our ability” to hit its fiscal targets, a Cabinet minister asserted yesterday, predicting that the Opposition and other critics will “be wrong again”.
Halkitis says govt monitoring oil production cuts in Saudi Arabia
ECONOMIC Affairs Minister Michael Halkitis said the government is monitoring global oil production amid reports that Saudi Arabia would cut daily oil output by one million barrels in July.
Minister says PM will address NIB concerns next week
PRIME Minister Philip “Brave” Davis will address concerns relating to the National Insurance Board (NIB) next Wednesday, Economic Affairs Minister Michael Halkitis said on Thursday.
Comments
Use the comment form below to begin a discussion about this content.
Sign in to comment
OpenID