Defending his 2023/2024 budget as a step in the right direction to make life better for Bahamians, Prime Minister Philip Davis yesterday slammed the former Free National Movement (FNM) administration and what he claimed was its failure to accomplish anything of worth.

"It's astounding to me that anyone on the side opposite can listen to what we've done in the past 20 months, and listen to how we will build on these achievements over the next 12 months, and simply say it is not enough," Davis said as he led debate on the budget.

"Not enough compared to what? Certainly, not the four years when they earned the title of least accomplished government in Bahamian history. I hope they didn't think what they did was enough. We've done more in our first 20 months than they did in their entire four years as a government.

"What we are building is a complete transformation of the agricultural sector, a repair of the damage done to our students during the pandemic, a renewed healthcare system, expanded home ownership, $1 billion in investments throughout the nation, and record levels of arrivals as we continue to make our mark as a regional tourism mecca.

"They will try to say there is very little new in this budget. And this is because they are not accustomed to strategic national development.

"These are not one-off initiatives designed for political clout like the programs they attempted to roll out right before the last election. These are long-term, nation-building policies that require continuity across budget cycles."

The government is projecting a deficit in the upcoming fiscal year of $131.6 million - a $389.5 million decrease from the current year's projected deficit.

Recurrent revenue is projected to be $3.316 billion and recurrent expenditure is projected to be $3.085 billion. Capital expenditure is projected at $364.6 million, an increase of $5.6 million.

Total government debt is projected to hit $11.7 billion, equating to 81.3 percent of GDP.

Davis dedicated much of his speech to the Minnis administration and its handling of the economy, Hurricane Dorian, and the COVID-19 pandemic.

He pointed to his government's commitment to national security, education, and food security, which he said will lead to a more fair and prosperous country.

On the issue of inflation, which has gripped the country and the world for more than a year, Davis said there is little The Bahamas can do in the short term.

"The problem comes from outside our borders, but we have tried to reduce the impact," he said.

"We lowered customs duties, expanded price controls, hired new price control inspectors, expanded BAMSI farmers markets. These measures helped - but not enough."

The solution rests with domestic production, Davis said, adding that his administration wants to reduce the country's food import bill by 25 percent by 2025.

While he provided few specifics on the crime fight, he said his administration is investing "in a holistic" approach.

"National security should never be an issue that is cheaply politicized for short-term political gain," Davis said.

"As I said in my communication last week, while we must take strong action on immigration and crime, what we must not do is allow the seeds of xenophobia, hatred, classism, sexism, and racism to take root in our politics."

The government will renovate community centers in an effort to keep young people off the streets, Davis said.

He said a new judicial complex will be constructed, new police cars will be purchased, and a woman's shelter will be built to help victims of domestic violence.

"I know there are those who have cynically proclaimed that both major political parties are the same," the prime minister said.

"I believe that it is clear that when it comes to accountability, when it comes to priorities, when it comes to making the right choices, there is a clear distinction between our track record and theirs.

"That comparison is insulting, considering how little they accomplished, and how much damage they did.

"This budget will continue to demonstrate the contrast between our parties and indicate to the Bahamian people that in September 2021, they made the right choice for a new day."

The post PM slams FNM, defends budget appeared first on The Nassau Guardian.

The post PM slams FNM, defends budget appeared first on The Nassau Guardian.

Click here to read more at The Nassau Guardian