thebahamasweekly.com – Premier Davis
COMMUNITY OF THE BAHAMAS
STATEMENT OF SUPPLEMENTARY BUDGET 2021/22
Presented to the Honorable House of Assembly
THE HONORABLE PHILIP DAVIS
MINISTRY OF FINANCE
WEDNESDAY OCTOBER 27, 2021
I rise before this Honorable House to present the supplementary budget 2021/2022 and to deposit the corresponding supplementary appropriations.
This supplementary budget, with an effective date of October 1, 2021, will align our government’s budget with our vision for progress, and will not increase the public debt more than forecast in the May budget presentation. 2021.
As my government’s Blueprint for Change indicates, we are facing a health crisis, an economic crisis and a crisis of governance. The Blueprint sets out our vision, our policies and our plans for a new direction – for a better way forward. We have made it clear that we believe the country needs significant and transformative change.
Our first priority is to show the way out of the crisis. A turnaround in our country’s COVID response is long overdue. Political missteps led to tragedy and slowed our economic recovery. We see the implementation of our COVID-19 action plan as an urgent priority.
In addition, decisive action is needed both to stabilize the nation’s finances and to come to the aid of those who need it most; our proposals for immediate action in these areas are the subject of this supplementary budget statement for the financial year 2021/22. The statement aligns the budget with our government’s vision for change and also takes into account critical unbudgeted commitments left by the previous administration.
On September 16, the people of the Bahamas went to the polls and voted decisively for a new day and a new direction. They voted for hope. The budget statement we are presenting 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 undo all the damage of the past four and a half years, this budget lays the foundation for creating a more vibrant, inclusive and resilient economy that benefits people.
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