OFFICIAL STATEMENT
Senator, the Honourable Kwasi Thompson Minister of State for Finance
in regards to the Statement by Chester Cooper, PLP Deputy Leader
and Shadow Finance Minister, on the Pre-Election Fiscal Update
The Ministry of Finance is preparing and finalizing the Pre-Election and Fiscal Update for publication online tomorrow, August 27th 2021, in keeping with the legal requirements of the Fiscal Responsibility Act, 2018.
The Fiscal Council is responsible solely for the preparation and publication of its reports. A cursory review of the Fiscal Responsibility Act will confirm their independence from the political directorate in respect of their duties.
This Administration has set the standard for accountability and transparency in respect of the laws that it has passed that now provide to the country for the first time published quarterly budget reports, published fiscal strategy reports, a brand new financial and procurement legislative regime, and a dedicated budget website (
www.budgetbahamas.gov.bs) where Bahamians can at any time review all of the publications and reports and see for themselves how their tax dollars are collected and spent.
This enhanced level of public financial reporting is brand new to The Bahamas and this Administration is proud to have done what no previous administration had ever delivered.
