Deepening capital investment in the country’s national infrastructure to bring it in line with global standards tops the government’s list of priorities for the new budget year, according to the nation’s chief.
The new budget year begins July 1, 2018.
“We need new modern schools, new modern hospital and clinic facilities,” said Prime Minister Dr. Minnis said.
“We need improved digital infrastructure. We need to repair and rebuild our airports, our roads, our docks and our sea defenses throughout the country.”
According to Dr. Minnis, Bahamians “young and old”, will be able to see, touch and experience, where their money is spent on public infrastructure.
“Unlike the other side who spent $1.5 billion on capital works over their last term, with precious little to show for it, all Bahamians – young and old – will be able to see and touch, and experience where their money is spent on public infrastructure works,” he said.
The prime minister also said that while Minister of Finance Peter Turnquest was clear that administration officials have had to “hold the reins” on capital expenditure so far this fiscal year, infrastructure development is an area that will require greater attention going forward.
This, he said, will ensure that public infrastructure responds to the economic and social needs of a modern and competitive Bahamas.
“Growth-friendly and growth enhancing public investments will need to be a particular priority,” Dr. Minnis continued.
“We will be fully cognizant however, of the need to arrange for the fiscally prudent means of financing such investment, including an appropriate role for public-private partnerships.
“We intend to make provision in the new budget year for substantial expansion in the capital investment of The Bahamas Government, to bring our national infrastructure up to standard.”