PM: Economy will begin to improve this year

PM: Economy will begin to improve this year

NASSAU, BAHAMAS — Prime Minister Dr Hubert Minnis yesterday assured that while this nation faces significant challenges, the government is meeting its core commitments and obligations, predicting that the economy will begin to improve this year.

During a national address, Minnis stated: “Never in our recent history have we had to deal with disruptions of this scale. Thousands of people remain out of work. Hundreds of businesses are struggling to keep their doors open.”

Prime Minister Dr Hubert Minnis delivers a national address on Sunday, February 21, 2021. (OPM COMMUNICATIONS UNIT)

He added: “Recently, there has been reckless chatter by some, suggesting that the country was on an economic precipice and that the country’s finances were in a depleted and chaotic state.

“Let me assure all Bahamians that while we face significant challenges that will remain with us for some time, the government is meeting its core commitments and obligations.”

Minnis noted that government is providing millions of dollars every month to support the special unemployment assistance programs, the food program and business loans and grants to Bahamian small businesses on a scale “never before seen in The Bahamas”.

The prime minister added that government has been executing its Resilient Bahamas plan and has additional funding to extend the food programme and the unemployment programs, which he said “continue to benefit tens of thousands of Bahamian families”.

This coming Wednesday, Minnis is expected to present the mid-year budget presentation to Parliament, during which time he will report to the nation on the country’s economic and fiscal situation.

“I will update you on our progress toward implementing the recommendations of the Economic Recovery Committee in an effort to ensure we have as strong and as robust an economic recovery as possible,” said Minnis.

“We are emerging out of this pandemic. Our economy will begin to improve this year. We will emerge into a better future.”

Leave a Reply

*