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Last Updated: Mar 23, 2018 - 7:06:57 PM |
 NASSAU, The Bahamas – The Government of The Bahamas intends to make provisions in the new budget year for substantial expansion in capital investment to bring the country’s national infrastructure up to standard.
The new budget year begins July 1, 2018.
‘We need new modern schools, new modern hospital and clinic facilities; we need improved digital infrastructure. We need to repair and rebuild our airports, our roads, our docks and our sea defenses throughout the country,” Prime Minister, Dr. the Hon. Hubert A. Minnis said.
Prime Minister Minnis said Bahamians “young and old” will be able to see, touch and experience, where their money is spent on public infrastructure.
“Unlike the other side who spent $1.5Billion on capital works over their last term with precious little to show for it, all Bahamians – young and old – will be able to see, and touch, and experience where their money is spent on public infrastructure works.”
Prime Minister Minnis said while Minister of Finance, the Hon. K. Peter Turnquest was clear that Administration officials have had to “hold the reins” on capital expenditure so far this fiscal year, infrastructure development is an area of government activity that will require priority attention going forward to ensure that public infrastructure responds to the economic and social needs of a modern and competitive Bahamas.
“Growth-friendly and growth enhancing public investments will need to be a particular priority,” Prime Minister Minnis continued, “we will be fully cognizant, however, of the need to arrange for the fiscally prudent means of financing such investment, including an appropriate role for public-private partnerships.
“We intend to make provision in the new budget year for substantial expansion in the capital investment of The Bahamas Government, to bring our national infrastructure up to standard,” Prime Minister Minnis added.
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