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Finance Minister Describes Fiscal Situation Dynamics in Budget Communication

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Bahamas, May 31, 2017 – NassauDeputy Prime Minister and Minister of Finance the Hon. K. Peter Turnquest said that with this Government Administration’s recent coming to Office that it is not for him to attempt to justify the actions of its predecessors, nor the fiscal impacts of those actions.

“However, for the sake of transparency and understanding on the part of the Bahamian public, I do want to describe the facts of the fiscal situation objectively and as they present themselves,” DPM Turnquest said as he presented the Budget Communication 2017/2018 in the House of Assembly, Wednesday, May 31, 2017.

He said: “The stark facts are as follows.   The Deficit outturn in the current fiscal year features a significant deterioration as compared to the fiscal projections contained in the previous Government’s final Budget.

“While they had forecast a Government Finance Statistics Deficit (GFS) of $100 million, the actual outturn is now expected to be on the order of $500 million.   That is an astonishing five times the Budget forecast of only 12 months ago.   The sharp deterioration in the state of the public finances in 2016/17 did admittedly flow, to some extent, from the multi-faceted impacts of Hurricane Matthew in early October 2016.”

He explained that the hurricane severely dampened economic activity in October, with the impact extended through to the fourth quarter of the year.

As a result, it is estimated that real Gross Domestic Product (GDP) in 2016 posted a zero rate of growth for the year as a whole, as compared to the Budget forecast of 0.5 per cent growth.

DSC_5313(2)DPM Turnquest explained that this directly weakened revenue collections.   “Recurrent Revenues were also reduced through the effects of the exigency order implemented by our predecessors, as a means of providing relief to those impacted by the hurricane.   In combination, these factors resulted in a shortfall in Recurrent Revenue collections to the tune of $216 million, to a level of $1,960 million vs. the $2,176 million budgeted.”

He said weaker revenues therefore account for a significant portion of the $400 million slippage in the GFS Deficit in the current fiscal year.

The DPM said Hurricane Matthew also affected the expenditure side of the Budget, through the actions implemented by the Government to assist in the rebuilding efforts and the repair of public infrastructure.   For example, the capital expenditures of the Ministry of Public Works were bolstered by over $55 million above and beyond its Budget allocation.   Total Capital Expenditures thus amounted to $310 million versus the $242 million budgeted.

He said that in addition, Recurrent Expenditures during the year amounted to some $137 million more than had been forecast, i.e., $2,458 million versus $2,321 million.

DPM Turnquest said key contributors to this increase were a higher level of Debt Redemption, at $21 million, as well as higher interest payments on Government debt, at $27 million.

He added that the total Government Direct Debt at the end of the 2016/17 fiscal year is estimated to amount to $6.5 billion, or 71.5 per cent of GDP.   “However, that is not the end of the story in the current fiscal year.   It is also important to note that the combination of revenue shortfalls and accelerated spending has contributed to a greater than usual backlog of payments and commitments as we approach the end of the fiscal year.

“The latest information has this backlog in excess of $300 million and it is possible that this number could increase before the end of the year as we get a greater understanding of the many deals of the former Administration.”

He said this high level of outstanding payables is directly responsible for the Government seeking emergency funding to meet the obligations of the 2016/2017 budget, as vendors are clamouring for payments.   “It is our intention to fully pay all of this backlog of payments and commitments this fiscal year and minimize, to the greatest extent possible, any carryovers into the 2017/18 fiscal year.   “I would also stress that this funding does not indicate insolvency but rather gross imprudence in the management of the fiscal affairs by our predecessors, as demonstrated by the large amount of financial commitments made in the run-up to the General Election,” DPM Turnquest said.

Release by: Llonella Gilbert (BIS)

 

 

 

 

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Prime Minister Commissions Completed Rooftop Solar Installations at UB

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Prime Minister Commissions Completed Rooftop Solar Installations at UB, July 3, 2026

By Lindsay Thompson

Bahamas Information Services


NASSAU, The Bahamas – Prime Minister the Hon. Philip Davis participated in ceremonies commissioning Completed Rooftop Solar Installations at the University of The Bahamas, a move towards energy sustainability.

Prime Minister Philip Davis

“Today, we turn a new page on how we power our lives, how we protect our environment, and how we define Bahamian leadership in the 21st century.

Energy is foundational to national development,” the prime minister said.

The ceremony commissioning installation completion, under the Reconstruction with Resilience in the Energy Sector in The Bahamas (RRESB) programme, was held on Friday, July 3, 2026 at Courtyard Choices, University of The Bahamas.

“With this commissioning, the University of The Bahamas takes its place at the vanguard of our energy transition. You are setting an example and proving your commitment to stewardship – leaving our islands better than we found them,” the prime minister said.

He said it was good to mark the commissioning: “The country has turned a new page on how we power our lives, how we protect our environment, and how we define Bahamian leadership in the 21st century,” he said.

The prime minister regarded energy as fundamental to national development, and added, “It determines how effectively we educate our children, how reliably we deliver healthcare, and how competitive our businesses can be.”  So, today is about solar panels, yes.  But it is also about how we power this country and what that means for the future we are building together. This is why programmes like RRESB matter.”

He said that it reflects his administration’s commitment to strengthening the systems that underscore daily life in the country, while building a country that is more sustainable and more energy-secure.

“We live on the frontlines of a changing climate.

“We have felt the fury of the winds and the rising of the tides. We know, better than most, that the old ways of generating power – reliant on volatile oil and fragile, centralized grids are no longer enough to guarantee our safety.

“This is why this administration will continue to strengthen our critical infrastructure and improve the resilience of our energy sector.

“As Prime Minister, I see these investments as investments in our future. They will serve our country for many years to come – while reflecting a broader shift in how we think about development.

Minister of Energy, Utilities and Aviation JoBeth Coleby-Davis

The Prime Minister said: “Sustainability is no longer separate from growth – it is essential to it.”

He extended sincere appreciation to Mr. Ruiz, Head of Cooperation at the Delegation of the European Union to Jamaica, Belize, The Bahamas, The Turks and Caicos Islands and the Cayman Islands, and to Mr. Fache, Program Manager with the European Union Delegation, for their partnership.

And, he commended partners at the Inter-American Development Bank, the University of the Bahamas, the Project Execution Unit, AnO Technologies, the Hon. Jobeth Coleby-Davis and the Ministry of Energy, Utilities and Aviation for their dedication and expertise in implementing this program.

“Today’s achievement reflects what can be accomplished when we work together in pursuit of a stronger Bahamas.

“This is the work of nation-building. It is not accomplished in a single day or in a single project. It is steady work – consistent and purposeful.”

 

(BIS Photos/Kristaan Ingraham)

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Diamond Stubbs, 17 • Betrica Brown, 19 • Stania Webb, 19 • Fourth victim yet to be identified

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Deandrea Hamilton | Editor

Six road deaths in two days leave a nation searching for answers

NASSAU, The Bahamas – A nation that only days ago celebrated graduations, scholarships and bright futures is now united in grief as six lives were lost on Bahamian roads in just two days, including four young women whose deaths have shaken the country to its core.

The names Diamond Stubbs, 17; Betrica Brown, 19; and Stania Webb, 19 have become the heartbreaking symbol of one of the country’s deadliest road tragedies in recent memory. A fourth young woman, believed to be 18 years old, had not been publicly identified by authorities up to publication time, as families continued to mourn and await official confirmation.

The four were among eight occupants travelling in a gray Mazda when it crashed into a tree on Shirley Street shortly after 1 a.m. Sunday. Police said the 19-year-old driver reportedly struck a pothole, looked back toward his passengers and lost control before the vehicle slammed into the tree. Three young women died at the scene, while a fourth later succumbed to her injuries in hospital. Four others, including the driver, remain hospitalized as investigations continue.

The tragedy’s impact reached the House of Assembly on Monday, where Members observed a moment of silence – led by Prime Minister Philip Davis – in honour of the young women whose lives were cut tragically short.

What has resonated most across the country is not simply how they died, but who they were.

Diamond Stubbs had just graduated from Old Bight High School in Cat Island as valedictorian and head girl. She was preparing to attend Langston University in Oklahoma on scholarship and was remembered by her father as an exceptional student who earned virtually every academic award presented at graduation while inspiring other young people to pursue their dreams.

Betrica Brown, who called both Cat Island and Abaco her homes, had recently travelled to Nassau to secure her student visa. Youth and Sports Minister Mario Bowleg said she was preparing to begin college on a volleyball scholarship.

Stania Webb had already distinguished herself at Langston University, where she earned both President’s List and Honour Roll recognition after graduating from Old Bight High School at just 16 years old. Family members remembered her as a quiet, ambitious young woman deeply committed to her Christian faith and education.

Speaking in Parliament, Prime Minister Philip Davis described the loss as heartbreaking, extending condolences to the families, classmates and loved ones whose lives have been forever changed. He urged Bahamians to keep those still hospitalized and the grieving families in their prayers. Similar expressions of sympathy came from across the political divide, churches, schools and communities throughout the country.

Some residents were also chided for sharing gruesome and graphic photos and video in the hours following the shocking car crash.  Relatives said it made a difficult, heartbreaking time more unbearable.

Condolences poured in from government and Christian ministers; The Bahamas Union of Teachers; The Bahamas Christian council and other leaders from across the islands.

The national tragedy extended beyond New Providence. Also on Sunday, 26-year-old Nica Julien lost her life in a separate traffic collision in Grand Bahama. Then, on Monday, a road traffic accident claimed the life of a 30-year-old man on the highway of Abaco.

Together, the six deaths have transformed what should have been a season of celebration with graduations and independence festivities in play, into one of national mourning, leaving families, communities and an entire country searching for answers—and praying that no more names are added to the list.

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Twist of Timing Shifts Focus in Jonathan Gardiner Case

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The Bahamas, June 26, 2026 – Imagine boarding a plane for another Bahamian island, only for it to crash in U.S. waters during what now appears to have been a remarkable twist of timing.

Jonathan Gardiner’s Election Day flight has dominated headlines for weeks, but Thursday’s decision by a New York federal judge suggests the story may be far bigger than the crash itself.

Gardiner was denied bail after U.S. District Judge Gregory Woods described him as a danger to the community, a significant flight risk and concluded that the government’s evidence is “very strong.”

For many Bahamians, however, the public narrative has remained fixed on the approximately $30,000 recovered after the crash, including an envelope reportedly containing $5,000 intended for an unnamed politician.

Gardiner’s attorneys have argued the cash was legitimate, saying roughly $20,000 had been withdrawn from his business account the day before the flight. They also maintain the prosecution’s case is circumstantial and have argued that his speedy trial rights are being violated.

But prosecutors say the charges stem from a three-year federal investigation into an alleged conspiracy to import cocaine into the United States—not an investigation that began because a plane crashed in Bahamian waters.

That distinction may prove critical.

The crash brought the case into public view, but it may not be what ultimately determines its outcome.

The judge’s ruling raises a question that now deserves greater attention: What evidence from that three-year investigation persuaded a federal judge that the government’s case is “very strong”?

The answer may not lie in the cash recovered after the crash, but in investigative material that has yet to be fully presented in open court.

As the case moves toward trial, Magnetic Media will continue looking beyond the headlines and following the evidence that underpins one of the most closely watched criminal prosecutions involving a Bahamian in recent years.

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