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The Bahamas: February Fiscal Balance Nets Surplus  

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Government Revenues Improve Over Prior Year 

 

 

By Rashaed Esson 

Staff Writer

 

 

#TheBahamas, April 26, 2023 – The Bahamas Government monetary position has boomed to a $16.2 million surplus for February 2023, according to the Ministry of Finance.

Revenue receipts increased by $51.7 million (26.2 percent), to $249.2 million in comparison to 2022.

The key factor responsible for this increase is the collection of $26.3 million in international trade and transaction of taxes, $12.5 million in value added taxes, $7.7 million in other taxes on goods and services and 2.7 million in property taxes.

On a monthly basis, taxes on other goods and services grew by $14.2 million (28.1 percent) and property tax receipts improved to 2.5 million (14.4 percent), hence the enhanced collection of profits.

Additionally, the total expenditure had a 1.1 percent increase of $2.5 million, to $232.9 million compared to last year.  Money spent by the Government increased; for the acquisition of goods and services it was $11.8 million, and for public debt interest payments it was $6.3 million.

On a monthly basis, spending was contained by $30.9 million (11.7 percent), primarily due to a reduction in interest payments of $23.5 million.

The Government’s new debt position increased by $100.0 million to pre-fund future debt amortizations (the process of gradually writing off the initial cost of an asset) and payments on behalf of State-Owned Enterprises (SOE’s).

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The Bahamas’ Prime Minister Philip Davis reiterated climate change concerns for his nation. 

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Rashaed Esson

Staff Writer

The Bahamas’ Prime Minister Philip Davis reiterated the threats of climate change to The Bahamas, speaking at a Global Citizen Conference in New York on May 2. He spoke of The Bahamas’ vulnerability as an ocean state, highlighting that more than 85 percent of the landmass is less than 3 meters above sea level and is porous limestone; a huge issue as water is able to seep into the land due to rising sea-levels. He expressed that Bahamians are “Doomed” to become climate refugees.

 

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U.S. Bird Flu outbreak to drive Poultry prices up says Super Value owner

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Rashsed Esson

Staff Writer 

Bird Flu has been detected in domesticated birds in the US and now reports are saying in the next few months, chicken and turkey will more than likely be off the shelves as a result.

Bahamas supermarket mogul, Rupert Roberts, as owner of Super Value and Quality Supermarkets, is featured in a report by Guardian Business giving a frightening forecast. He fears poultry products will be wiped out.

This he says is scary.

He adds that suppliers are not saying much if anything at all, but are expecting this outcome worldwide.

The bird flu was found in chickens in Texas and Michigan, said media reports which also said one person was infected, as well as other livestock.

In response to the outbreak, the largest egg producer in the US, CalMaine Foods, temporarily stopped egg production in Texas and started executing over 1 million hens and 337 thousand chicks.

Despite this, Roberts reportedly said chicken and turkey supplies are safe for now. The Bahamas imports its turkey from Brazil, which Roberts hopes will grow to become the country’s main supplier.

However, the unfortunate outcome is that poultry prices are set to go up according to Roberts, as the small island nation competes with giant economies like China for poultry products.

 

 

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Minister LaRoda: Disability inclusion is an ‘overarching goal’ of the Administration

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National Commission for Persons with Disabilities (NCPD) Commissioners, group photo, from left: Craig Delancy, Geneva Cooper, Maxine Stubbs, Kendrick Rolle, Minister Myles LaRoda, Chairperson Nalini Bethel, Jerome Thompson, and Gillian Bethel. (BIS Photos/Anthon Thompson)

NASSAU, The Bahamas – The Government of The Bahamas supports and embraces persons with disabilities and will continue to ensure that the requirements of the Persons with Disabilities (Equal Opportunities) Act (2014) are enforced through positive and continuous actions, inclusive of new amendments to the Act, Minister of Social Services, Information and Broadcasting, the Hon. Myles K. LaRoda said Thursday.

The year 2024 marks the tenth anniversary of the passage of the Act which was implemented to end discrimination against persons with disabilities as well as promote their rights and provide equal opportunities, amongst other provisions.

Mr. LaRoda said “disability inclusion” is an overarching goal of the Davis Administration. He was addressing the fifth in a series of ‘Let’s Talk Disability’ Town Hall Meetings hosted by the National Commission for Persons with Disabilities – two each in Andros and Long Island, and one in New Providence.

The Minister of Social Services, Information and Broadcasting expanded upon the significance of disability inclusion – in action.

“Inclusion, in action, is the demonstration that we, in The Bahamas, are an inclusive society and that we celebrate and encourage persons with disabilities in the same way as we do others,” Minister LaRoda said.

“We are no different than other countries with regard to the range of disabilities which include physical, behavioural, emotional, sensory, neurological and developmental. As a country, we must focus on the role that we, the community, must play as it relates to persons with disabilities, recognizing that there should never be a distinction between one member of society over another. Disability Inclusion is an overarching goal of countries across the globe.”

Mr. LaRoda said “unfortunately,” people living with disabilities are still often marginalized and are seen as outsiders in the communities.

“But my Ministry and its partners are making every effort through events such as these Town Halls to correct this gross misconception and stereotypical belief.”

He told Persons with Disabilities, their families, friends, and advocates attending Thursday evening’s Town Hall Meeting (held at the Cleveland Eneas Primary School) that they too have a role to play.

“This also means that you too have a responsibility to share with us and to let us know how we might improve the quality of your life; let us know instances of unfair treatment or discrimination; let us know when our service to you needs to be improved. After all, we are the Ministry of Social Services and we are here to serve you and to understand how we might serve you better.

“Today, we address the concerns of this community in New Providence and I urge you to take this opportunity to voice your concerns to those who work every day, promoting the rights of Persons with Disabilities and celebrating them.”

Minister LaRoda said embracing the needs of the community of persons with disabilities “shows that we are serving in very pragmatic ways.”

He pointed to the efforts undertaken by corporate entities such as ALIV, NAD, Rotary, the Chinese Embassy and others, whom he said demonstrate, by their actions, that there is a serious attempt at inclusion.

“ALIV for example worked with the Ministry of Public Personnel to employ some 20 persons with Disabilities; NAD initiated the Sunflower Lanyard for hidden disabilities and continues to initiate trailblazing programs to ease travel conditions on behalf of persons with disabilities. Rotary consistently provides wheelchairs to the physically disabled as does NCPD, and with donations from the Chinese Embassy, we were able to donate educational toys and devices, hearing aids and other items.

“We are so very grateful for such corporate partnerships as it is important that the community is embraced at both a public and private level so that persons with disabilities can feel valued, respected, and supported. We welcome with open arms other corporate entities that may wish to become partners in this cause to improve the lives of those who live with a disability,” Mr. LaRoda added.

 

 

 

 

 

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