National

PM: I Think We’ve Fixed The Financial Issues

GRAND BAHAMA, BAHAMAS – After nearly three years in office, Prime Minister Philip Davis says his government has solved financial problems they met when they took office back in 2021.

Published

2 years ago

August 11, 2024

Berthony McDermott

GRAND BAHAMA, BAHAMAS – After nearly three years in office, Prime Minister Philip Davis says his government has solved financial problems they met when they took office back in 2021.

Following his sweeping defeat in the 2021 general election, former Prime Minister Dr. Hubert Minnis revealed his decision to call an early general election was because of headwinds that were coming admitting very difficult decisions would have to be made.

Well speaking in Grand Bahama, Davis said those headwinds were coming from the international monetary fund who says is now shocked at the government’s accomplishments.

In this year’s budget debate Davis said his government met deficits at record highs that are now trending downward and a debt to GP ratio over 10 percent that has fallen to below 80 percent.

According to Davis, the government is raking in more money with the VAT rate dropping to 100 percent than when it stood at 12%.

But, those aren’t the only achievements in the Prime Minister’s book. He also referenced the rise in minimum wage.

His comments came at the signing of 40 contracts for the relaunch of the small homes repair program in Grand Bahama.