Bahamas News

Unemployment decreased from record highs to pre-pandemic levels

Published

1 year ago

March 12, 2023

Deandrea Hamilton

By LLONELLA GILBERT

Bahamas Information Services

#NASSAU, Bahamas, March 12, 2023 – Minister of State for the Public Service, the Hon. Pia Glover-Rolle said unemployment has decreased from record highs to pre-pandemic levels.

“In fact, since last year, it has already decreased by an additional two per cent,” the Minister of State said during her Contribution to the Mid-Year Budget Debate in the House of Assembly, March 1, 2023.

“Tourist arrivals are exceeding pre-pandemic levels. We are on track for a record-breaking year – kudos to the Member for The Exumas and Ragged Island.”

She said last year, the country experienced eight percent economic growth and the Central Bank is predicting an additional six to seven per cent in economic growth for this year.

The Minister of State said the government has hired hundreds of new officers in the Royal Bahamas Defence Force, Royal Bahamas Police Force, and Department of Immigration.

She also noted that within the Public Service, the government paid out double increments across the board and made payments reflecting the increase in minimum wage.

The Minister of State said after years of union leaders crying about poor engagement from government, this government administration has successfully signed over 15 new agreements.

“Remember when they said the MOU we signed with the unions before the election was just a political ploy? What they fail to understand, that we understand, is that good governance is the best politics. It was in our best interest to keep our word because it was in the country’s best interest.

“In total, $20 million dollars was budgeted for new union agreements, and we were able to keep expenditures below this amount at $18 million.”

She said this is the first time ever that new agreements did not lead to huge overspending in the budget, because this is the first time that the agreements were actually completely budgeted for.

Fiscal Management in the Public Service

The Minister of State explained that the Ministry of the Public Service has taken its commitment to fiscal management very seriously.

“We are largely on target despite a number of items implemented during this fiscal year that were not initially budgeted for. But for the sake of our public servants, we embarked upon an ambitious agenda with a full understanding that some reallocation would be necessary to facilitate high priority items.”

She said, “So far, for the year, we have spent roughly 55 per cent of the allotted budget. We are requesting an additional 8 per cent increase to cover necessary expenses.”

The Minister of State noted that among the major expenses are amounts related to salaries.

She said compensation of employees widened due to accelerated staff promotions, salary adjustments, hiring for new and existing agencies and units, the payment of arrears, confirmations and reclassifications.

The Minister of State said for Permanent and Pensionable employees, the Ministry is requesting an additional $1.2 million in funding.

“We have prioritized these items and are working as quickly as possible to get our public servants the money they have earned. My constant refrain has been: behind each delay in payment and each stagnant promotional exercise is a Bahamian with hopes, dreams, and ambitions. For this reason, we will not stop working until every matter is resolved.”

She said the government also funded the return of increments for all permanent and pensionable public servants after they were halted by the previous administration.

The Minister of State said, “Within the first half of this budget cycle, we funded the public service minimum wage increase to cushion the impact of global inflationary forces and improve the standard of living for government employees at the lowest levels of the pay scale.”

Bahamas News

Bahamas economic growth

Published

2 days ago

May 4, 2024

Shanieka

Rashaed Esson

Staff Writer

The Bahamas’ economy is in good standing according to reports from the Bahamas National Statistical Institute which released the Quarterly Gross Domestic Product Series. They indicate that quarterly GDP trends for 2023 saw increases compared to 2022, a sign of recovery from the Covid 19 pandemic.

The most significant increase was 9.9 percent in the first quarter of 2023, and the industries responsible for the growth include Accommodations and food, construction and Arts.

Bahamas News

RBC appoints new Country Manager and Area Vice President for Turks & Caicos

Published

2 days ago

May 4, 2024

Shanieka

RBC Royal Bank (Bahamas) Limited (“RBC”) is pleased to announce the recent appointment of Kerryl-Lyn King-Henry as Country Manager and Area Vice President (“AVP”), Personal and Commercial Banking, Turks & Caicos Islands (TCI).

In her new role as Country Manager and AVP, King-Henry will take on full responsibility for the bank’s operations, strategy, and development in the TCI market, with a strong focus on solidifying partnerships with the Government, regulatory bodies, and the local community.

King-Henry brings to the role a dynamism influenced by nearly 25 years of industry experience. Prior to her new appointment, she served as AVP of Business Banking in Trinidad and Tobago. She has held progressively senior roles within both personal and commercial banking, as well as various functional units.

King-Henry holds a Master of Business Administration (MBA) degree, with a specialization in Leadership, FinTech and Big Data Analysis, in addition to a Bachelor’s Degree in Business Administration. Further enriching her professional profile, Kerryl-Lyn is a certified John C. Maxwell Coach, Trainer, Teacher, and Speaker. Her passion for leadership and development is matched by her commitment to community service, as she actively volunteers her time and leverages her professional expertise to mentor and support others. “

Kerryl-Lyn’s extensive experience and proven leadership capabilities make her the perfect choice to lead our operations in the Turks & Caicos Islands,” said Ericka Rolle, RBC’s Managing Director and Vice President, Personal Banking, The Bahamas and TCI.

“Her commitment to excellence, combined with a genuine passion for community engagement, aligns perfectly with our Bank’s purpose of helping clients thrive and communities prosper. We are excited to see the positive impact she will undoubtedly bring to her new role,” she added.

Bahamas News

Get your laugh on, March On show coming to Turks and Caicos with box office at IGA Friday and Saturday

Published

2 days ago

May 3, 2024

Shanieka

Dana Malcolm

Staff Writer

After resounding success in the Bahamas, hit play ‘March On, The Story of Us’ has been inundated with requests to take their show on the road, and the first location they’ll be hitting is Providenciales Turks and Caicos with tickets on sale this weekend from May 3 to 5.

Magnetic Media spoke to Gea Pierre, playwright, who told us the TCI was a natural first choice for the cast and crew.

“We started ‘March On’ in November 2023 and it was really an opportunity for us to tell a story, the story of the Bahamas and to encompass the nations that we have an amazing relationship with like the Turks and Caicos,” she continued “We really got a lot of people calling [for the play] from [the TCI], so much so we really had to pay attention.”

The response to ‘March On’ at home and abroad was overwhelming.

“To say it went well is an understatement, even before we opened we got calls from Canada, from all over the US with people wanting us to come and perform.”

And take the show on the road they did! Gea and her team have launched “March On: The Tour” and will be in Providenciales to perform on May 10th and 11th. It’s the first of a number of stops which include Nassau and several US locations.

A ticket booth will be set up from today, Friday May 3 in the foyer of IGA grocery store beginning at 1 p.m. Friday and then again all day on Saturday, allowing residents to purchase with cash.

Online tickets are available for purchase with credit cards. Then the full team returns on Friday, May 11 for the actual showing at 8 pm and their two showings on Saturday at 4pm and 8 pm. The venue is Brayton Hall, Providenciales under the patronage of Washington Misick, TCI Premier and First Lady Delthia Misick.

Describing the close familial relationships between the TCI and the Bahamas, for many on the crew it will be like coming home Gea told us, for others it will be a treat to visit for the first time, the places that their grandparents described.

Tickets are only $60 for general seating and $75 for VIP seating.

Gea maintained that the team wanted to keep the show as accessible to residents as possible.

As for why you should come out and see the play, other than the great price point:

“The way that people have responded to it is non stoplaughter, people have been moved to tears because there’s some emotion. It does not only lend to Bahamians. It’s a family drama, and anyone who’s ever been a part of a family is going to get something out of it, and something moving.”