INTRODUCTION

I am pleased to make this Mid-Year Budget Statement for

the six-month period July 1 - December 31, 2010. It is a matter of best
practice that we come to Parliament to provide an update on the state of
play of public finances at mid- year.

THE ECONOMIC ENVIRONMENT

Global Economic Developments and Outlook

In the 2010/11 Budget Communication, I reiterated that, as with other
governments around the world, my Government had executed an economic and
fiscal strategy tailored to the vital needs of our economy and
citizens. Along with key structural reforms designed to enhance the
domestic business environment, we are positioning The Bahamas to gain
maximum advantage from the modest, though ongoing, economic recovery
that is underway...