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Prime Minister Davis - 2021-2022 Supplementary Budget Statement
Oct 27, 2021 - 6:30:46 PM

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COMMONWEALTH OF THE BAHAMAS
2021/22 SUPPLEMENTARY BUDGET STATEMENT
Presented to the Honourable House of Assembly
By
THE HONOURABLE PHILIP DAVIS
PRIME MINISTER
&
MINISTER OF FINANCE
WEDNESDAY OCTOBER 27, 2021

I. Introduction

Madam Speaker,

I rise before this Honourable House to present the 2021/22 Supplementary Budget, and to table the corresponding supplementary appropriations.  

This supplementary budget, with an effective date of 1st October 2021, will bring our government’s budget in line with our vision for progress, and will not increase the national debt more than forecasted in the May 2021 budget presentation.

As my Government’s Blueprint for Change states, we face a health crisis an economic crisis, and had a governance crisis.  The Blueprint lays out our vision, policies and plans for a new direction – for a better way forward.  We have been clear that we believe the country needs big and transformative change.

Our first priority is to lead the way out of crisis. A turnaround for our country’s COVID response is long overdue. Policy missteps have led to tragedy and have slowed our economic recovery.  We view implementing our COVID-19 Action Plan as an urgent priority.

In addition, decisive action is required to both stabilize the nation’s finances and to provide relief to those most in need; our proposed, immediate actions in these areas are the subject of this Supplementary Budget Statement for the 2021/22 fiscal year.  The Statement aligns the Budget with our Government’s vision for change, and also accounts for the critical unbudgeted commitments left behind by the previous administration.     

On September 16th, the Bahamian people went to the polls and voted decisively for a new day and a new direction. They voted for hope.  The Budget Statement that we present today -- “Building the Foundation for a New Direction” -- is designed to put our country on the path to change and progress. While we cannot immediately or completely reverse all of the damage of the past 4 ½ years, this budget provides a foundation for creating a more dynamic, more inclusive, more resilient economy that delivers for the people ...SEE ATTACHED TO CONTINUE 


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