The Tribune

By KHRISNA VIRGIL

Tribune Staff Reporter

kvirgil@tribunemedia.net

THE government has struggled with several aspects of the economy in trying to finalise the mid-year budget, Prime Minister Perry Christie said yesterday.

When the government does present its fiscal plan to Parliament in the coming weeks, Bahamians will have a better idea of the fiscal hurdles facing the country, Mr Christie said.

But, the Prime Minister said, he remains “cautiously optimistic” that the initiatives being put in place to spark growth will bear fruit.

Mr Christie said: “We have a very difficult situation ahead of us in terms of our midterm budget. We will give a very frank assessment of the economy and of the weaknesses of the economy. (Also) of the efforts we have to make to stabilise the economy and most certainly to effect savings and to curtail expenditure. (We have to) improve and increase revenue.

“We are really grappling with some issues in our economy and the great need to move forward on all fronts in terms of improving the economy.”

And with thousands still unemployed, Mr Christie said the government hopes more jobs can be created.

“We know the extent to which we have to engender growth in the country and there is no easy way to it with 30,000 plus people being unemployed and with there being a negligible growth rate. We have to improve, and in all areas really.”

Mr Christie was not able to say how much money the government will have to borrow.

“I know what we have to do, its something that I will not speak to now because we are today beginning discussions with our Cabinet colleagues on the question of the midterm budget.

“The implications of the midterm budget will show all of us how we should govern ourselves. In all areas we have to move significantly,” Mr Christie said.