NASSAU, BAHAMAS — The Minnis administration has eliminated nearly 80 percent of the $360 million in arrears it inherited when it assumed office in 2017, according to Prime Minister Dr Hubert Minnis.
During his mid-year budget statement for the six months ending December 2020, Minnis noted: “The government continued its commitment to reduce the $360 million in arrears it inherited in 2017 and, as of December 2020, approximately $282.7 million in arrears have been settled since the start of the programme.”
The Minnis administration has argued the value-added tax (VAT) rate hike from 7.5 to 12 percent it introduced after taking office was necessary to pay off the $360 million in past-due government arrears with no budgetary allocation.
Minnis noted that his administration will continue its aggressive response to COVID-19, provide social support to the most vulnerable, digitize government business services, continue to focus on the ease of doing business and promote a digital economy — with support for the Central Bank’s Sand Dollar — as well as implement elements of the Economic Recovery Committee’s recommendations.
