National

PM Promises Financial Management Act Amendments

NASSAU, BAHAMAS – PM Philip Davis pledging to table a revised Financial Management Act to allow the Fiscal Strategy Report and the Medium-Term Debt Management Strategy to be tabled simultaneously.

Published

2 years ago

February 7, 2023

Berthony McDermott

NASSAU, BAHAMAS – As he opened debate on the Fiscal Strategy Report, Prime Minister Philip Davis pledging to table a revised Financial Management Act that will allow for the Fiscal Strategy Report and the Medium-Term Debt Management Strategy to be tabled at the same time as the annual budget.

Davis explains this would disregard 10 months of empirical evidence of the country’s economic performance ahead of the budget.

He called the approach unwise.

His comments come after the official opposition blasted the government, saying the Fiscal Strategy Report was late, noting that it should’ve been released back in November.

Davis also laying out a number of initiatives to ensure those who owe taxes, pay them.

These include the collection of vat on domestic vacation rental properties among other things.