Government announced in its Fourth Quarter Report on Budgetary Performance for Fiscal Year 2018/19 that it achieved the lowest fiscal deficit in ten years in that budget cycle, with a low 0.1 percent increase in the debt-to-GDP (gross domestic product) ratio.

The government ewill officially release the numbers in the report today, but it is heralding its last budget cycle as successful in achieving its deficit target, recording a deficit reduction of 46 percent year-on-year, ending at $222.4 million, or 1.7 percent of GDP, “marking the lowest deficit and fiscal ratio achieved by any administration in The Bahamas in nearly ten years”.

Deputy Prime Minister and Minister of Finance Peter Turnquest said in a press release on the report that the Free National Movement (FNM) government has proved that it is serious about correcting the country’s fiscal trajectory.

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