COMMONWEALTH OF THE BAHAMAS
MID-YEAR BUDGET STATEMENT
ON THE SIX MONTHS ENDING DECEMBER 31, 2020
Presented to the Honourable House of Assembly
DR. THE MOST HONOURABLE HUBERT ALEXANDER MINNIS
MINISTER OF FINANCE
WEDNESDAY FEBRUARY 24, 2021
It is my privilege to present to this honourable house the 2020/21 Mid-Year Budget Statement, as required by the Financial Administration and Audit Act, 2010 and the Fiscal Responsibility Act, 2018.
This Mid-Year Budget Statement is presented at an unprecedented time in modern Bahamian history.
It comes at a time when The Bahamas is still rebuilding from Hurricane Dorian -- when, the country is contending with the persistent threat of the COVID-19 pandemic.
To address these challenges, in May of last year, my government brought to this house its budget for the 2020/21 fiscal year entitled, “Resilient Bahamas: A Plan for Restoration”.
This macroeconomic plan was designed to allow the country to successfully weather the ravages of the coronavirus pandemic and to also emerge stronger and more resilient.
During the 2020/21 budget debate, we outlined the government’s plan and strategy to navigate these challenging times, by including provisions to:
- Protect the wellbeing of our citizens and residents;
- Maintain economic stability during the COVID-19 induced crisis; and
- Plant seeds for an accelerated recovery.
To achieve these goals in an environment of fiscal constraint, we decided to focus on five priority areas.
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