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The Government has a very clear guiding vision for a better future for Bahamians

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#Bahamas, March 9, 2018 – Nassau – Deputy Prime Minister and Minister of Finance, the Hon. K. Peter Turnquest said to properly understand the Government’s fiscal consolidation strategy and the state of the public finances at the mid-point of the 2017/18 fiscal year, it is necessary to begin with a realistic and thorough assessment of the gravity of the fiscal challenges that this Government Administration inherited from the previous administration.

“Irrespective of the baseless and empty rhetoric that we have heard following the presentation of the Mid-Year Statement, our Government does have a very clear guiding vision for a better future for Bahamians, with both a stronger economy and enhanced job opportunities.  We also have a plan for getting there,” the DPM said during his Contribution to the 2017/18 Mid-Year Budget Debate in the House of Assembly, Wednesday, March 7, 2018.

He said the present administration elaborated on their vision and plan in its 2017 Manifesto, in the Speech from the Throne, as well as in the May Budget Communication.

“As I made amply clear in the Budget Communication, however, we must as a priority addresses the fiscal mess that we inherited from the party opposite. We simply cannot, and will not, spend recklessly as did the previous administration without due regard for the financial resources available.

“Ours is now the task of putting order in the public finances of our nation to arrest the seemingly inexorable rise in the burden of Government debt that hangs like the proverbial albatross around the neck of Bahamian society and our economy.”

The DPM said it is imperative that the burden of debt is returned to lower and more sustainable levels in order to free up the critical resources that are necessary to fully implement the action plans within the Government’s socio-economic growth agenda as promptly and effectively as possible.

He explained that when the burden of Government Debt represented a more manageable and sustainable 30 per cent of GDP, the Government’s interest payments on the debt accounted for some 10 cents of every revenue dollar.

“Last fiscal year, with a debt burden of 57.6 per cent of GDP, interest payments chewed up almost 14.5 cents of every revenue dollar.

“Were it possible to return to a burden of debt under which interest payments again accounted for 10 per cent of revenues, our annual interest payments would be appreciably reduced.

“At the 2017/18 level of revenues, the savings would be on the order of $75 million.  Those are precious financial resources indeed that could make a significant contribution to the advancement of the Government’s agenda for growth through, for example, supplementary investments in education, health or infrastructure.”

He said it needs to be stressed that much work needs to be done to get the country to the type of debt burden objective that would be preferable. However, the Government is firmly committed, through its concrete fiscal consolidation plan, to getting the country moving in that direction.

DPM Turnqest said as a first step requires the elimination of the annual Government deficit that is the direct cause of increased borrowing.

He said, “Eliminating the deficit and getting to a lower debt burden are also vital to recreating the fiscal room to manoeuvre that is prudently required to allow the country to deal with unforeseen economic and other shocks, such as hurricanes, that may present themselves in the period ahead.”

By: Llonella Gilbert (BIS)

 

 

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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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