Thursday, February 7, 2019

DPM: 0.1% of GDP surplus by 2021/2022

Deputy PM and Min. of Finance Peter Turnquest

No VAT increase in the next budget

NASSAU, BAHAMAS – While touting the Minnis administration’s fiscal performance during the first six months of this fiscal year, Deputy Prime Minister and Minister of Finance Peter Turnquest acknowledged yesterday that the government is still a long way away from eliminating fiscal deficits.

However, the minister said the government’s medium-term fiscal plan, which includes maintaining recurrent expenditure and engaging in a modest enhancement of capital expenditure could result in a small budget surplus of 0.1 per cent of GDP in 2021/2022.

The Bahamas is forecasted to experience a deficit of 1.8 per cent of GPD this fiscal year.  Read more >>