The Government plans to spend taxpayer money on a number of special projects that will benefit the Bahamian people. These project are designed to achieve the following specific objectives: inclusive growth, social progress, economic development, public sector reform and modernisation, economic diversification, and environmental sustainability.
Empowering underserved communities
Economic Growth is to be felt by everyone and is to be inclusive of communities that have been neglected or previously underserved. The key to this growth will be economic expansion. Both Foreign Direct and Bahamian investment is a key strategy to drive growth and expand the economy. Inclusive growth means that a palpable difference is felt by all Bahamians and to achieve this there will be a focus on the Over-the Hill Community and on providing affordable housing as an initiative. Accessibility to our Family of Islands is key for the growth of these often underserved communities so airport improvements will be planned to modernize and enhance Family Island Airports.
Jobs and Economic Growth
Building a New Foundation for Growth
The Government has secured a non-reimbursable grant from the Inter-American Development Bank in the amount of $500,000 to finance a three-year technical cooperation project with a particular focus on promoting economic diversification through the digital economy (information technology) and the blue economy (marine resources).
Investing in Human Development and Entrepreneurship
The Government’s direction for Social Progress is to increase the educational opportunities for young people to become entrepreneurs as well as to assist them to access the financing needed through the Small Business Development Center. This will result in not only enabling the growth of the middle classes but also protecting the middle classes, giving buying power to those in their own businesses to churn the economy.
Building eco-friendly infrastructure
The Government maintains as a policy priority the need to embrace technologies that reduce the national need for fossil fuels and maximize renewable energy usage. In addition to the reduction in duties related to import of solar energy components, the Government is undertaking several other new initiatives. The Bahamas is also participating in Carbon War Room’s Ten Island Challenge aiming to reduce dependency on fossil-fuels. Developing more than 20 megawatts of solar PV generation across the family islands is a key objective.
Public Sector Reform & Modernisation Growth
Enhancing public sector service delivery
Reformation of the Public Sector will involve the development of new skills in the Public Service and continuity as persons retire as mandated at 65 years of age. The modernization of the Public Service in The Bahamas is required as many of our practices and procedures are antiquated. An IDB report made recommendations using seven indices which included: Efficiency, merit, structural consistency, functional capacity, integrative capacity, management capabilities and diversity management. The Prime Minister’s delivery unit will oversee this reform as it directly impacts the ease of doing business in the Bahamas.
Our citizens desperately need and desire strong and decisive leadership that is fully transparent and accountable to the people; that exercises prudent management of their tax dollars; and that encourages and facilitates a growing economy that supports new job growth and a higher standard of living."
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