Bahamas News
PM Davis touts his Government’s work in putting The Bahamas’ ‘fiscal house’ in order
NASSAU, The Bahamas – During the introduction of his 2024/2025 Budget Communication in the House of Assembly, on May 29, 2024, Prime Minister and Minister of Finance the Hon. Philip Davis said that the budget reflected just how far his Government had come, in under three years, in putting The Bahamas’ “fiscal house” in order, and significantly surpassing international projections.
“I very much understand why the international projections were cautious – we faced, and in many ways, continue to face, very serious challenges,” Prime Minister Davis said. “But let me tell you something: It’s never a good idea to underestimate Bahamians.”
He added: “When we came into office, the fiscal situation was bleak, with a deficit that was 13.1 percent of GDP. By the end of the last fiscal year, the deficit had been significantly reduced – to 3.8 percent of GDP – and, during this budget communication, I will announce a further reduction. But I don’t want to wait to share the bottom line: in under three years, we have knocked a billion dollars off our deficit.”
Prime Minister Davis noted that his Government “pulled the country back from the brink by exercising fiscal discipline – while still putting our compassion for the Bahamian people at the heart of our policies.”
“We could not do otherwise: when we came into office, Bahamians were suffering terribly – far too many were out of work and in
despair,” he stated. “The unemployment rate at that time was 17.6%.”
“We moved fast – we opened up the economy, we partnered with the private sector, we encouraged innovation and new investment in tourism and other sectors, and we worked hard to promote our special little country,” Prime Minister Davis added.
“The unemployment rate is now the lowest it’s been since 2008, at 8.8%.”
Prime Minister pointed out that another key fiscal measure, the debt-to-GDP ratio, showed “how dire the situation was in 2021”, adding that in June of that year, the debt-to-GDP was 100.4%.
“That means that the size of our debt was the same size – even a little bigger – than the size of our economy,” he said. “Once this happens to a country, a cascade of negative consequences can gain momentum, leading to a very grim outcome.”
“We took action to prevent those worst-case scenarios, and the latest debt statistics reflect a debt-to-GDP ratio of 79.9 percent, a significant achievement,” Prime Minister Davis added. “We know we still have a lot of work ahead of us; but we’ve come a long way, and our country is finally headed in the right direction.
Prime Minister Davis also reiterated the values and the vision behind the policy decisions his Government made in the 2024/2025 Budget.
“We have big ambitions for our country and for the Bahamian people,” he stated. “We are working hard to bring down the cost of living for Bahamians, to create safer communities, to support our entrepreneurs, to strengthen our borders, and to build a more inclusive economy.”
He added: “We are also determined to expand opportunities across our beautiful islands, throughout our archipelago. It’s the first time The Bahamas has a Prime Minister and a Deputy Prime Minister representing Family Islands. We’re making the most of it, aren’t we, Exuma? Our core policies, including our initiatives promoting progress for our Family Islands, were articulated in our Blueprint for Change, and were reflected in previous budgets, which have focused on national, economic, and personal security. These goals and policies will be further developed and expanded in the new fiscal year.”
BIS Photos by Anthon Thompson
NASSAU, Bahamas — More Bahamians are accessing HIV and sexually transmitted infection-related healthcare through National Health Insurance, a trend the NHI Authority says should be viewed positively.
NHIA stressed in an August 6 statement that its 2025 figures measure healthcare utilisation, not newly diagnosed infections. They include beneficiaries screened, treated, monitored or receiving follow-up care, including people diagnosed previously.
“Increased utilisation of these services should be viewed as a positive development,” NHIA said.
The Authority pointed to “greater enrolment and use of NHI, improved access to screening and testing, continued treatment and monitoring of existing conditions, and increased willingness to seek medical care.”
The development comes amid a mixed three-year HIV picture. New diagnoses rose from 130 in 2023 to 156 in 2024, before declining to 142 in 2025.
NHIA said increased utilisation demonstrates that more beneficiaries are accessing needed healthcare and actively managing their health, reinforcing the importance of screening, early diagnosis and continued treatment.
NASSAU, Bahamas — Caribbean Wines & Spirits (CWS), The Bahamas’ premier wines and spirits distributor is proud to announce the launch of Monument Beverage Co., its newest 100% locally produced ready-to-drink alcoholic cocktail.
Monument, “Made to Celebrate”, perfectly encapsulates everything the brand represents. Created and distributed by CWS, Monument is
inspired by culture, crafted with excellence and bursting with innovation.
This unique beverage celebrates island living with three bold flavors, Ginger Lime, Peach Passion and Melon Fizz. All of which can be enjoyed at an ABV of five-point-two percent.
The brand’s creativity really shines through each can’s packaging. Bold colored stripes, cherished native flora and fauna and of course, national monuments can all be found on each can.
The beverage’s two year plus development is a testament to CWS’ dedication to quality and innovation. Countless hours of tastings, reformulations, focus groups and package design reviews all paid off with the creation of Monument.
Karla Wells-Lisgaris, Chief Commercial Officer of Caribbean Wines & Spirits and Caribbean Bottling Company (CBC), local producers of Coca-Cola and Dasani products, shared what this authentically Bahamian made product launch means for the company.
“When we were conceptualizing Monument, we wanted to create a product that not only tasted like The Bahamas but would be an ode to the
nation as well. With those two thoughts in mind, I, along with a team of experts, created three incredible flavors we believe really connect with and celebrate the essence of island living,” she said.
“Additionally, being that Monument is the first product to be 100% manufactured by Caribbean Wines & Spirits, we really wanted to ensure that both the flavors and packaging honored our rich heritage. On each of the cans, you can find various monuments such as the Nassau Public Library in New Providence, the Garden of the Grove in Grand Bahama and the Hatchet Bay Silos in Eleuthera; all of which pay homage to our diverse Bahamian heritage.” Wells-Lisgaris concluded.”
The historic monuments found throughout our islands are more than places we pass every day; they are reminders of who we are, where we’ve come from and the stories that connect us as Bahamians.
Monument is perfectly formulated with quality ingredients, and each can celebrates a collection of these cultural icons from across The Bahamas.
Whether chilling solo beachside, gathered around a family table or backyard a grill with friends, make Monument your sip of choice. Monument is made to celebrate, visit www.cwsbahamas.com today for more details.
NASSAU, Bahamas —– Caribbean Bottling Company (CBC), local producers of Coca-Cola and Dasani products, is proud to crown Lady
Kayla of Exuma as this year’s annual Bahamas Goombay Punch Cup winner.
CBC created the Bahamas Goombay Punch Cup to further the advancement of sailing and Bahamian culture through monetary and social support. The competition judges the skipper’s performance across three regattas, The Best of the Best, the National Family Island and Long Island Regattas.
The winning sloop led by Kianno Hutchinson and Joss Knowles showcased their skillmanship in the E-Class category across each round of competition. In addition to winning the trophy, the skippers were awarded a $5,000 donation, an $8,000 stipend to the junior sailing club of their island and a limited-edition Lady Kayla Bahamas Goombay Punch commemorative can, which will be released soon.
Jonathan Thronebury, Marketing Director of CBC shared the significance behind The Bahamas Goombay Punch Cup.
“The Bahamas Goombay Punch is more than a beloved local brand; it’s a vibrant part of our cultural fabric. Just like sailing, our national sport, it carries a rich legacy that spans generations. Recognizing this shared history, we’re proud to support initiatives that celebrate and advance Bahamian culture,” he said.
Hutchinson and Knowles shared what this win meant for them.
“I felt super proud when I realized we won. I am grateful and thankful to God, for good coaches and Joss. It was really an honor winning the
Bahamas Goombay Punch Cup,” Hutchinson expressed.
“I am very honored to have been able to compete in the Bahamas Goombay Punch Cup, I think it is a great concept and idea for a competition and really adds a new motive throughout the regattas. The whole championship was super competitive, and every single race was a fight. Alvington McKenzie was extremely competitive and had us until the Long Island regatta, which made it a very fun and tough competition. Very excited to have been the winner of a super close championship,” Knowles revealed.
Lady Kayla’s owner, Dallas Knowles, shared the team’s winning strategy.
“In sailing consistency is key and our guys in Lady Kayla are some of the best in the business at staying near the top. In the end, that was enough to secure their first Bahamas Goombay Punch Cup win. We are so proud of Joss and Kianno for what they have done in Lady Kayla. Thank you to Caribbean Bottling Company for such an amazing and forward-thinking initiative,” Knowles shared.
The Bahamas Goombay Punch Cup is proud to continue its impact on sailing and community building through clean and fair competition.
For more updates on the Bahamas Goombay Punch Cup and Caribbean Bottling Company visit the website www.cbcbahamas.com today.
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