Mid-Year Budget Communication 2017-2018 Mid-Year Budget Communication | Page 8

a 21 st Century Bahamas. The Government commits, over
below the standards for a 21 st Century Bahamas. The Government commits, over
I am pleased to p
find creative and
this efficient
term in office,
ways to
to substantially
find creative increase
and efficient ways to substantially
increase
Bahamas are in a better
s in our hospitals,
productive
schools,
investments
clinics, airports
in our and
hospitals,
digital schools, clinics, airports year. The aggregate GFS
and digital
for the sustained
infrastructure,
social and
to economic
allow for development
the sustained of
social and economic development
of $198.0 m
totalled some
the full archipelago. These investments will be critical to
Bahamians throughout the full archipelago. These investments will be critical to
recorded by the previou
eded improvements
underpin in the
productivity,
much-needed
boost
improvements
the growth in productivity, boost year. The latter figure a
the growth
mian economy potential
and thereby
of the
contribute
Bahamian to economy
enhanced
and
job thereby contribute to enhanced
job
three times the total de
izens.
opportunities for our citizens.
presaged the eventual
which, at $676 million,
Mr. Speaker,
$100 million.
of this fiscal year, some
In the
$69
first
million
half of
was
this
expended
fiscal year,
from
some $69 million was expended from
sources, as part of the $100 million that the Government is
current Government resources, as part of the $100 million that the Government is
Mr. Speaker,

As I foreshadowed
to invest
in my
in RESOLVE.
statement
As to I foreshadowed
Parliament on in my statement to Parliament
on
It is important tha
of last year, and as was disclosed at the time of our recent
RESOLVE, in September of last year, and as was disclosed at the time of our recent
our published mid-yea
ance, the Government
international
committed
bond issuance,
to facilitate
the Government
RESOLVE committed to facilitate
RESOLVE number at
expenditure
100 million Promissory
retiring the
Note
original
issued
$100
to the
million
Bank
Promissory
of The Note issued to the Bank
of The
increase
in recurrent ex
the initial tranche
Bahamas
of toxic
in respect
loan transfers,
of the initial
in accordance
tranche of toxic loan transfers, in the debt redemption (or
accordance
e. After exploring funding options, the Government is of
with an agreed schedule. After exploring funding options, the Government is of
the same point last year
be best to access
the view
the domestic
that it would
market,
be best
given
to the
access
ample
the domestic market, given
the ample
bump
up in debt repaym

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