National

How Close Are We To Meeting Our Targets?

NASSAU, BAHAMAS – The mid-year budget report by the Davis administration revealed a deficit far exceeding its forecast.

Published

10 months ago

March 2, 2024

Berthony McDermott

NASSAU, BAHAMAS – The mid-year budget report by the Davis administration revealed a deficit far exceeding its forecast.

For the first half of the 2023/2024 fiscal year the net-deficit was at $258.7 million which exceeded the forecast by $127.6 million.

The prime minister also revealing both revenue and expenditure are up. Communications Director in The Office of The Prime Minister Latrae Rahming says government will meet it’s target.

Parliament will kick off the mid-year budget debate this coming Wednesday. At the time, the various ministers will lay out how it intends to get it’s numbers in line by the end of the fiscal period.

Figures six months in also revealed that the travel budget for The Office of The Prime Minister increased by $1.6 million putting the figure at just over $2 million.

Rahming believes it will not impact public perception. He says true measure of their work is in it’s impact for everyday Bahamians.