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Last Updated: Feb 13, 2017 - 1:45:37 AM |
 NASSAU, The Bahamas - Prime Minister and Minister of Finance the Rt. Hon. Perry Christie said, on May 25, 2016, that the Governance pillar of future economic and social development that were identified in the recent State of the Nation Report is about the institutions that serve the vital needs of citizens and underpin their rights and freedoms in a stable and secure environment.
"We have, thus, embarked on a process to transform the way in which strategic planning is implemented at the centre of Government," Prime Minister Christie said, as he presented his 2016/2017 Budget Communication in the House of Assembly. "Our view of planning has evolved to more fully encompass strategic thinking, as we prepare for today and the future."
He noted earlier in his speech that the four pillars of development that he was alluding to are: Human Capital, Governance, the Natural and Built Environment, and the Economy.
"In a nutshell, we have placed planning and results-based management at the forefront of the activities of Government so that we can achieve the very best opportunities for the people that we serve," he added.
Indeed, Prime Minister Christie noted, strategic planning will allow us to successfully take ideas from conception to execution, considering all of the known available options and alternatives and recommending the best approach.
"This represents a sea-change in our public policy formulation procedures built around a 'Centre of Government' approach to planning within the Office of the Prime Minister, including the development and institution of an effective planning and monitoring tool and a governance mechanism to ensure that planning and execution are properly implemented," Prime Minister Christie said. "We have also launched a wide-ranging reform of our Public Financial Management System that will have a positive impact on the performance of the public sector, including a more transparent and efficient public procurement system."
The implementation of the new Chart of Accounts by the end of the next fiscal year, Prime Minister Christie said, will allow tracking of expenditure at the level of projects and programs. It will also allow expenditure to be tracked by geographic location. This, he pointed out, is especially important given the obligations under the Hawksbill Creek Agreement.
"To facilitate this implementation, the Government will upgrade its IT infrastructure to allow for the modernization of the existing systems," he said.
However, Prime Minister Christie said, "I wish to stress that this investment does not mean that the Government will not pursue the complete overhaul of its public finance system that is still slated to commence in the upcoming fiscal period."
© Copyright 2016 by thebahamasweekly.com
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