THE FISCAL CHECKPOINT: Decoding the Budget / S8E17

In this week's episode of "On the Record" hosted by Jerome Sawyer, the focus is on the 2024-2025 budget communication with Minister of Economic Affairs, Michael Halkitis. The discussion explores the government's ambitious plans to drive economic growth, including reducing the national deficit by a billion dollars, implementing comprehensive energy reforms, and making significant investments in healthcare and education. Halkitis emphasizes the administration's focus on growing the economy, improving revenue administration, controlling expenditure, and finding new revenue sources, particularly highlighting the resurgence of tourism and construction sectors post-pandemic as key drivers of economic recovery.

Additionally, Halkitis addresses concerns from the business community about new tax requirements and efforts to ease compliance through improved customer service and streamlined processes. The episode also covers major infrastructure projects aimed at sustaining economic growth, such as the Family Island airport infrastructure program, and investments in digitizing public services to enhance efficiency and effectiveness. The segment concludes with an overview of the ongoing legal and financial issues with the Grand Bahama Port Authority and the government's plans to stimulate economic activity in Grand Bahama through redevelopment projects, including the Grand Lucayan Hotel and the international bazaar.