Economy to Benefit from Increased Transparency and Fiscal Responsibility

Mar 2, 2021

The Free National Movement (FNM) issued the following statement regarding the Minnis Administration’s legislative agenda to modernize the government’s economic decisions:

“The bar for economic development opportunities continues to rise as the Minnis Administration is proving their commitment to creating a more transparent and modern economy for the future. The Marina at Hoopers Bay in Exuma, Bella Vista hotel in Grand Bahama, the marina expansion by Carnival Half Moon Cay and Finley Cay New Providence are all emerging developments the FNM Government is moving forward in their effort to streamline foreign direct investment.

“Prime Minister Minnis yesterday began debate on several key bills. For the first time in history under the Administration’s Public Financial Management Bill, 2021 governments will be required to report the government’s fiscal position monthly. The Public Procurement Bill will also make history, modernizing the procurement process by developing a transparent, online, public portal. The Public Debt Management Bill will create debt management protocols, and the Statistics Bill will drastically increase the level of available data to generate special reports on our economic position.

“Under the previous administration, where Brave Davis served as the top deputy, the PLP turned corruption into an art form, tying the hands of entrepreneurs by awarding contracts to themselves and their allies and keeping Bahamians in the dark to avoid consequences.

“The leadership of Prime Minister Minnis is a stark contrast to those days, whereas now we have a Government that believes every Bahamian should have the opportunity to participate in the market. And the Minnis Administration is working to follow that through in word and in action. The FNM government will continue fulfilling its promise to create a more transparent, fiscally responsible government which will improve international perception of The Bahamas, increase foreign direct investment and most importantly, provide all Bahamians economic opportunity, not the chosen few because we believe the people deserve nothing less from their leaders.”

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