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Prime Minister Davis Highlights His Government’s Accomplishments, Revenue, During Mid-Year Budget Debate

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#TheBahamas, March 2, 2023  – During his Contribution to the Mid-Year Budget Debate 2023, Prime Minister and Minister of Finance the Hon. Philip Davis said in the House of Assembly, on March 1, 2023, at the mid-year point of the first full-year budget crafted by his Government, it continues to advance the nation’s recovery from multiple crises, at the same time as building an economy that will be “more dynamic and more inclusive”.

Prime Minister Davis said: “We have:

·         Provided affordable housing: Pinecrest and Carmichael Renaissance are just the beginning.

·         Launched a rent-to-own pilot to make home ownership accessible to more Bahamians.

·         Introduced a number of additional measures to address the very significant impact of the global inflation crisis in The Bahamas, including raising the minimum wage, reducing or suspending import duties on a broad range of goods, expanding the list of items subject to price control – and now, increasing enforcement of those price controls, with dozens of new price control inspectors.

·         Amended the NHI Act to provide for catastrophic health care and amended the Mental Health Act to transform and modernize the way this country deals with the issue of mental health.

Upgraded and continue to upgrade a number of health clinics throughout the country. In fact, we plan to upgrade all 91 of them, and we are finalizing plans to construct 2 new hospitals.

·         Installed free WiFi in parks across the country, to ensure wider participation and access to information in this digital age.

·         Recruited hundreds of new Police, Defence Force, and Immigration officers.

·         Upgraded Family Island infrastructure, including polyclinics, airports, seaports, new roads, seawalls and government complexes. We recently opened a government complex in Bimini and a new passport office in Arthurs Town, Cat Island.

·         Expanded the use of solar power generation, as we pursue broader energy sector reform.

·         Opened the Andre Rodgers Stadium, a world class baseball stadium built to Major League standards, highlighting our commitment to “Sports in Paradise” and the orange economy where sports, creative arts and culture will become a significant pillar of the country’s national economy.

·         Made historic investments in agriculture — stakeholders in the food production industry now say that 30 years of ‘blowing smoke’ (on farming) is over, and that self-sufficiency in egg production project is now achievable, thanks to the innovative Golden Yoke programme launched earlier this week. This is part of a major emphasis on food security. The pandemic and the global inflation crisis have only underscored the dangers of continuing to import so much of what we eat. I can’t wait to go to the market and see shelf after shelf with Bahamian-grown and produced food.”

“So you see, we did not come here to defend the status quo, we came here to change it,” Prime Minister Davis added.

Turning his attention to Revenue, in Fiscal Performance, Prime Minister Davis pointed out that the Government’s fiscal deficit for the first half of the fiscal year decreased by $5.3 million when compared to the previous year.  He added that the deficit totaled $276.0 million for the first six-month of the fiscal year, compared to $281.3 million in the prior year.

“In fact, for the first half of this fiscal year, the primary balance reflected a surplus equating $4.9 million, a major variance from the primary deficit of $41.2 million in the previous year,” Prime Minister Davis noted.  “This primary surplus is the first in a very long time.

“When analyzing over 10 years’ worth of data, it is evident that the Government had reoccurring primary deficits each year, for the same time period.”

Prime Minister Davis said that his Government’s revenue performance during the first half of the fiscal year 2022/2023 had improved significantly due to a “vibrant, rebounding economy and strengthened collection efforts”.

“Macroeconomic indicators show persistent demand in the tourism sector with continued growth in visitor activity and occupancy rates in hotels and the home rental market,” he said.  “These factors, and revenue policies and administration strategies, have produced results, with total revenue estimated at $1.3 billion for the first six months of the fiscal year.”

“Total revenue has surpassed the prior year by $124.6 million and stands at 44.9 percent of the budget forecast,” Prime Minister Davis added.  “Compare that to the first six months of the fiscal year 2018/2019, which can be considered the last ‘normal’ fiscal year, when the total revenue collected during this period accounted for 38.2 percent of the budget forecast.

“This administration’s policies to restore the country’s fiscal health are working – and they are working alongside policies to invest in our people and in our future.”

Prime Minister Davis noted that tax revenue totaled $1.1 billion and strengthened by $130.6 million compared to the prior year, of the same period. Compared to the budget forecast, that represented 44 percent of the collection target,” he added.

“Again, it’s worth comparing that 44 percent to the first six months of the fiscal year 2018/2019 — the last ‘normal’ fiscal year — during which the tax revenue collected accounted for 37.0 percent of the budget forecast,” Prime Minister Davis noted.  “There can be no doubt that improved collection of tax liabilities are contributing to these positive results.”

Compared to total tax revenue, Prime Minister Davis noted that Value-Added Tax (VAT) comprised 54.6 percent of the total. For the first six months of the fiscal year, value-added tax totaled $598.8 million, and grew by $54.2 million compared to the prior year, he added.

“To date, VAT accounts for 42.4 percent of the budget forecast,” Prime Minister Davis pointed out.  “The value-added tax collections continue to improve despite the reduction in the nominal VAT rate from 12 percent to 10 percent, which meant that VAT was reduced across a very broad range of goods and services.”

“Despite the period-over-period improvement in the VAT collection, the VAT yield has not reached its full potential,” he added.  “In fact, I believe that this administration can further increase the VAT yield with more compliance efforts.”

Analyzing historical VAT collections in comparison to the forecast, for the first six months of the fiscal year, revealed that in FY2021/2022 VAT equated 58.8 percent of the budget forecast; in FY2020/2021 VAT equated 43.0 percent of the forecast; and in FY2019/2020 VAT equated 52.9 percent of the forecast, Prime Minister Davis pointed out.

“Thus, although VAT collections to-date increased over the prior year, the collection rate in comparison to the budget, for the first half of this fiscal year, is lower than in the last three fiscal years,” he said.  “This same kind of trend was also seen with business license fee collections during the period, in which the actuals underperformed in comparison to the budget forecast.”

“However, this Administration continues to tighten the approach of tax collection via targeted compliance efforts that fall under the Government’s overall revenue strategy to enhance revenue collections, as stated it the FSR 2022,” Prime Minister Davis added.

“With further enhancement to tax compliance measures, we are confident that we can boost tax collections by reducing revenue leakages and loss.”

Prime Minister Davis said that taxes on international trade and transactions improved by $88.5 million relative to the previous year and totaled $314.3 million. That equated 61.8 percent of the budget target, he pointed out.

“Most notable under this tax component was an improvement in departure tax collection by $45.0 million compared to the prior year, totaling $71.5 million,” Prime Minister Davis said.  “To date, departure tax stands at 73.7 percent of the forecast.

“Also, excise duties grew by $37.4 million to total $119.0 million. At the half-year mark, this accounts for 73.7 percent of the budget forecast.”

Prime Minister Davis noted that, another highlight was property tax collection, which increased to $59.5 million, an improvement of $22.7 million when compared to the prior year. That accounted for 35.1 percent of the budget target, he said.

“Property tax collection at end-December 2022 represents the highest amount collected when compared to collections over the last 9 years, for the same period,” Prime Minister Davis said.

“Based on this trend, property tax collections, by the end of this fiscal year, can have the highest yield seen in a long time.”

Prime Minister Davis stated that non-tax revenue understandably had a modest contraction during the first six months of the fiscal year; as iterated in the mid-year statement, in the prior year, non-tax revenues were inflated due to dividend receipts from BTC, the first in a long time.

“Nevertheless, non-tax revenue totaled $160.6 million during the first half of this fiscal year, and compared to the budget forecast, this accounts for 51.9 percent of the budget target,” he said.  “During the period, non-tax revenue improvements were seen in premiums, fees and current claims that increased by $25.2 million.”

 

(BIS Photos/Anthon Thompson)

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Federal Investigation into Florida Turnpike Tragedy that Killed Three Children of Bahamian Mother

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NTSB examining roadside assistance driver’s actions, SUV speed and seat belt use after six people perish in fiery collision

ORLANDO, FLORIDA — October 29, 2026 — Federal investigators have joined the investigation into a horrific Florida Turnpike collision that claimed six lives, including all three children of a Bahamian mother, as questions intensify over what caused the deadly crash.

The United States National Transportation Safety Board (NTSB) has confirmed that it is opening an investigation into the October 23 accident, which occurred around 9:31 p.m. near mile marker 252 in Orange County.

The agency’s involvement brings federal scrutiny to a tragedy that has devastated several families and prompted an extraordinary outpouring of sympathy and disbelief.

Among those killed were siblings Charles Milton, Jakara Milton and Dalvena Green, the three adult children of Marshall Clarke-Milton and her husband, Charles Milton Sr.

The siblings were traveling with three others to Universal Orlando’s Halloween Horror Nights, reportedly on their first trip together.

They never arrived.

FEDERAL INVESTIGATORS EXAMINE WHAT WENT WRONG

The NTSB confirmed to FOX 35 Orlando that its investigation will examine the training and performance of the roadside assistance driver, the actions of the SUV driver, including speed, and whether the occupants were wearing seat belts.

The agency investigates serious transportation accidents to identify safety failures and recommend measures that could prevent similar tragedies.

Its involvement does not establish wrongdoing by either driver.

The Florida Highway Patrol is conducting a separate investigation into the collision.

According to the preliminary police account, a Road Ranger roadside assistance truck had been parked in the highway median before its driver received instructions to assist a disabled box truck on the opposite shoulder.

As the Road Ranger moved across the northbound lanes, it collided with a 2023 Chevrolet Traverse carrying six adults.

Both vehicles left the roadway and caught fire.

All six occupants of the SUV died at the scene. The Road Ranger driver survived with minor injuries.

MOTHER CHALLENGES EARLY ACCOUNT

Witnesses reportedly told investigators that the SUV was traveling at high speed without its headlights illuminated.

However, those observations have not been established as the definitive cause of the collision.

Clarke-Milton has challenged suggestions that her children or their companions were responsible, urging investigators to examine the evidence before reaching conclusions.

She wants investigators to establish the SUV’s actual speed and determine whether its headlights were operating.

The family’s concerns underscore the importance of the continuing investigations, particularly given the movement of the roadside assistance vehicle across active highway lanes.

ALL THREE CHILDREN LOST

For Clarke-Milton, the investigation unfolds against an almost incomprehensible personal tragedy.

She lost all three of her children simultaneously.

In an emotional interview with FOX 35 Orlando, the grieving mother described the terrible feeling that overcame her when she could not reach them.

“My heart sank,” she said, recalling the moment she feared her children were involved.

The siblings were among six people whose lives ended during what should have been an enjoyable evening together.

The other victims included Timothy Williams and Shawn Palmer. A sixth person’s identity had not been publicly confirmed in the latest reports reviewed.

The family’s heartbreak has resonated across The Bahamas and beyond, with expressions of sympathy accompanying calls for answers.

SEARCH FOR ANSWERS CONTINUES

The Florida Highway Patrol has indicated that a crash report is expected within approximately ten days of the accident.

The NTSB’s investigation will examine broader transportation safety concerns, including the operation of roadside assistance vehicles and the circumstances surrounding the collision.

For the grieving families, the findings cannot reverse the tragedy.

But they may establish what happened on that stretch of Florida’s Turnpike and whether anything could have prevented six people from losing their lives.

For one Bahamian mother, the loss is especially devastating.

Three children left for an evening of entertainment. Not one came home.

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Bahamas Issues Cybersecurity Alert Over Akira Ransomware Threat

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Nassau, The Bahamas, October 22, 2026 — The National Computer Incident Response Team of The Bahamas (CIRT-BS) has issued a cybersecurity advisory warning businesses, government institutions and other organisations about the growing threat posed by Akira ransomware, a cybercriminal operation capable of stealing sensitive information, disrupting networks and demanding ransom payments.

Active since March 2023, Akira operates through a Ransomware-as-a-Service model, with affiliates exploiting weaknesses in computer networks to gain unauthorised access.

Once inside, attackers can steal confidential data, disable recovery systems and encrypt files, preventing organisations from accessing critical information.

Particularly concerning is Akira’s use of double extortion, threatening to publish stolen information unless victims pay. Some attacks involve data theft without encryption.

The October 22 advisory identifies vulnerabilities involving Cisco and SonicWall firewalls, VPN services, Microsoft Remote Desktop Protocol, Veeam backup systems and outdated Windows and Linux operating systems. VMware ESXi and Nutanix AHV environments are also potential targets.

Attackers may exploit unpatched software, stolen login credentials and inadequately secured remote-access applications, including AnyDesk and RustDesk.

Warning signs include unexpected administrator accounts, unusual remote logins, unauthorised software installations, suspicious backup activity, mass file changes and ransom notes.

CIRT-BS recommends immediate security updates, multifactor authentication, restricted remote access, stronger network monitoring and secure backups maintained separately from operational systems.

Organisations should also remove unnecessary internet exposure of remote desktop services, limit administrative privileges and regularly test backup restoration.

The advisory does not identify any confirmed Akira attack against a Bahamian organisation but highlights vulnerabilities that could expose institutions to serious financial and operational disruption.

Cybersecurity incidents can be reported to CIRT-BS at soc@cirt.bs or through its official website.

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Energy Minister Delivers Electrifying Keynote Opening Address at CAREC 2026  

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NASSAU, The Bahamas – The Bahamas’ Minister of Energy, Utilities and Aviation, The Honourable JoBeth Coleby-Davis, delivered an electrifying address during the opening ceremony of the 2026 CARILEC Resilient/Renewable Energy Community (CAREC) Conference and Exhibition, being held October 18–22, 2026, at the British Colonial Hotel in Nassau, The Bahamas.

Under the theme “Empowering Progress: Strategic Policy and Planning for the Energy Transition,” the event draws more than 200 industry leaders, policymakers, regulators, and energy professionals committed to advancing practical strategies for sustainable and reliable Caribbean power systems through renewable energy and emerging technologies.

During her address, titled “The New Energy Era: Transforming Policy into Progress,” Minister Coleby-Davis reminded attendees that The Bahamas’ national motto, “Forward, Upward, Onward, Together,” aptly describes what the region’s energy transition demands.

“Empowering Progress speaks directly to our national motto. Not waiting for progress, but creating the conditions that allow progress to happen. Meaningful progress, however, does not occur by accident. It requires vision, sound policy, strategic planning, strong institutions, and the determination to turn decisions into results,” said Minister Coleby-Davis.

Participants acknowledged that small island developing states share similar pressures, compounded by geographical challenges, small electricity markets, ageing infrastructure, geopolitical influences, and the growing threat of severe weather.

Tasked with ushering in a new energy era across the islands while addressing the challenges posed by The Bahamas’ unique archipelagic composition, Minister Coleby-Davis said, “Every island needs a different answer, but the same logic. As an archipelagic nation, we must provide electricity across many islands, each with its own demand and infrastructure needs. Our strategy, therefore, must be national in direction, but responsive to individual communities.”

Restating her Ministry’s three core messages—that energy is an economic and security priority, technology must be viewed as a tool to support strong institutional leadership, and natural gas should be considered a bridge, not a destination—Minister Coleby-Davis reiterated that “progress must now be reflected in functioning infrastructure, effective institutions, and better electricity services: from policy commitments to coordinated implementation, and from fragmented investment decisions to long-term planning.”

Organised by CARILEC and co-hosted by Bahamas Power and Light (BPL) and Grand Bahama Power Company (GBPC), the annual Conference and Exhibition brings together the Caribbean energy community to advance practical solutions to the region’s most pressing energy challenges and accelerate progress towards more resilient, reliable, and sustainable power systems.

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