The following information was sent to me recently and it seems a blog post is appropriate.
$25.0m - amount missing from Urban Renewal
$48.0m - amount missing from Road Traffic
$23.8m - amount missing from Mortgage Relief
$85.0m - amount missing from BAMSI
$10.0m - amount missing from social services
$11.3m - amount spent on carnival
$17.0m - amount allocated to the Office of the Prime Minister
$79.0m - amount the Office of the Prime Minister actually spent
12,000 - number of gallons of gasoline that leaked into the groundwater of the residents of Marathon
1 - number of years the government took to tell the residents their ground water was contaminated
(Figures based on amounts reported in the Tribune)
Add to this the continual borrowing - the National Debt is now over $7 billion - and continual deficit spending averaging $500 million a year even the Bahamas Central Bank is warning that “Medium-term consolidation prospects remain contingent on sustained expenditure controls.” Spending controls that appear remote at best based on the current governments approach to fiscal matters.
Read more in The Central Bank of The Bahamas Monthly Economic and Financial Developments, March 2017 here…
