Economy to Benefit from Increased Transparency and Fiscal Responsibility

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March 2, 2021

The Free National Movement (FNM) issued the following statement regarding the Minnis administration’s legislative agenda to modernize the Government’s economic decision-making process:

“The Minnis administration is continuing its effort to create 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 its effort to streamline foreign direct investments.

“Prime Minister Dr. Hubert 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 their 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. The Statistics Bill will drastically increase the level of available data to generate special reports on our economic position.

“Under the previous administration, the PLP turned corruption into an art form, tying the hands of entrepreneurs by awarding contracts to their own and keeping Bahamians in the dark to avoid consequences.

“The leadership of Prime Minister Minnis is a stark contrast to those days. Now we have a Government that believes every Bahamian should have the opportunity to participate in the market. The FNM Government will continue fulfilling its promise to create a more transparent, fiscally responsible Government that will improve international perception of The Bahamas, increase foreign direct investment and, most importantly, provide all Bahamians economic opportunity.”

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