Prime Minister Perry Christie
PRIME Minister Perry Christie said yesterday despite repeated claims from Official Opposition members that his administration has not spurred growth in employment, his government has created over 20,000 jobs since taking office in 2012.
While closing out the 2016/2017 budget debate, Mr. Christie said recent data from the Department of Statistics shows that between May 2012 and November 2015, the total labour force of The Bahamas grew by 23,885.
Mr. Christie said while the number of unemployed people rose by 3,720, the national rate of unemployment was relatively stable, registering at 14.8 per cent in November 2015 as compared to 14.7 per cent in May 2012.
“So, Mr. Speaker, based on the facts, the reality is that employment in the country has grown appreciably over the past four years, but unfortunately not rapidly enough to absorb the somewhat stronger growth in the labour force,” Mr. Christie said.
“My government has readily acknowledged that that is a particular challenge that confronts policymakers in this country; it is imperative that we achieve significantly higher rates of real economic growth to both absorb the significant new numbers of entrants into the labour force each year and sharply reduce the rate of unemployment.”
Mr. Christie also said despite “unfounded claims” from the Free National Movement, the government has reduced the country’s deficit by 80 per cent and on the current path, a GFS surplus is projected for 2018/2019 - the first surplus in at least 40 years.
“Since coming to office, we have reduced the GFS deficit each and every year. In 2013/2014 we reduced it by $51 million, in 2014/2015 by $107 million, in 2015/2016 by $107 million and in 2015/2016 by $231 million,” Mr. Christie said.
“In the coming fiscal year, we have projected to reduce it by a further $50 million. They (the FNM) have to be pleased and the country ought to be pleased by that. It demonstrates fiscal responsibility and strength in being able to make decisions. For the benefit of those opposite who have shown signs of possibly being mathematically challenged, that is a total reduction in the GFS deficit of $439 million. Thus, by the coming fiscal year, the deficit will have been cut by fully 80 per cent from the all-time record high of $539 million, or 6.4 per cent of GDP, bequeathed to us by the opposition.
“Mr. Speaker, it bears repeating that the GFS deficit in 2016/17, at $100 million, will be at its lowest level since the turn of the millennium. And, on current plans, a GFS surplus is projected for 2018/19, the very first such surplus in at least 40 years.”
Mr. Christie also criticised Deputy Leader of the FNM Peter Turnquest for “telling Bahamians a GFS deficit lie.”
Earlier this month, Mr. Turnquest disputed the government’s finance statistics and said “the government is promoting untruths” and according to his calculations the GFS deficit “should be in the order of $446 million” and not $100 million.
However, Mr. Christie said Mr. Turnquest only looked at a portion of the 2015/2016 fiscal year and then assumed that the fiscal trends during that part of the year would continue, which Mr. Christie said was “inaccurate and inappropriate.”
By Sancheska Brown, Tribune Staff Reporter
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