PM: REVENUE IS UP...

By LEANDRA ROLLE Tribune Staff Reporter lrolle@tribunemedia.net

PRIME Minister Phillip “Brave” Davis said for the first six months of the year, revenue collections are estimated at $1.2bn, which represents a $111.5m increase over the same period in the previous fiscal year.

“To date, revenue collections account for 44.5 percent of the annual budget target. This alone is indicative of the positive impact of the reforms implemented by this administration,” he said during his mid-budget year communication in Parliament yesterday.

“When we examine the first six months of (fiscal year) 2021/22, 43.4 percent of total revenue was collected during this period and only 35.3 percent of revenue was collected in the first half of (fiscal year) 2020/21.

“Further, when we look at the last ‘normal’ fiscal year of 2018/19, only 41.7

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(But so is the deficit)

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

BAHAMIANS should be “wary” but not alarmed after the Government yesterday revealed a modest $11.4m increase to its forecast 2022-2023 fiscal deficit along with a similar-sized capital spending cut-back.

Fiscal observers said the revised $575.4m deficit, up from the originally planned $564m, was “not material in the grand scheme of things” as the Davis administration unveiled a $76.5m increase in its recurrent or ‘fixed cost’ spending above the estimates produced in last May’s Budget.

Gowon Bowe, Fidelity Bank (Bahamas) chief executive, said he and other private sector chiefs who attended Monday’s Business Round Table meeting with the Prime Minister and key Cabinet members were informed that both revenue and public spending “in certain cases” were outpacing the 2022-2023 Budget projections.

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‘ERA OF FISCAL MISMANAGEMENT’ AT AN END

AFTER “inheriting” nearly $1bn in unpaid bills and unfunded obligations left behind by the previous Minnis administration, Prime Mianister Philip “Brave” Davis declared yesterday that the government’s fiscal strategies are working as he pointed to a decline in

FNM ANGER AT AG ATTEMPT TO ‘HANDCUFF AND MUZZLE’ PAC

EARYEL BOWLEG Tribune Staff Reporter ebowleg@tribunemedia.net

FREE National Movement leader Michael Pintard expressed the opposition’s outrage over Attorney General Ryan Pinder’s attempt to “handcuff” and “muzzle” the Public Accounts Committee.

He added that Senator Pinder has no authority over the legislature and the PAC.

The lashing comes after Mr Pintard expressed concern that Permanent Secretary Luther Smith was a “no show” before the

REPAIR PROJECTS TARGET OF $38M INCREASE FOR EDUCATION

THE government has increased the capital budget allocation for the Ministry of Education and Technical and Vocational Training by over $30 million, Prime Minister Philip “Brave” Davis revealed in the House of Assembly yesterday.

The ministry initially had a capital budget allocation of $41,122,940 for the 2022/23 fiscal year, but it was raised to $79,400,446. This is due to the government’s supplementary budget funding of $38,277,506.