News Report: Budget Must Have Private Sector's Back

From The Tribune May 27th, 2020

The government is being urged to “drive confidence” by using today’s 2020-2021 budget to show the private sector it will do whatever it takes to “undergird the economy” and prevent its collapse.

Jeffrey Beckles, the Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) chief executive, told Tribune Business that the Minnis administration needs to use “the budget of all budgets in recent memory” to send the message that it has the business community’s back on the road to COVID-19 recovery.

“The budget is an exercise to demonstrate they’re going to boost confidence, drive confidence that the government is prepared to support the economy, support the business community, and make the decisions necessary to undergird the economy beyond the initial shock,” Mr. Beckles said.

“We’ve been saying words after Dorian such as sustainability and resiliency. This Budget had to do just that; help us become more resilient. The expectations are high, naturally so, because we’ve never been a crisis before with this much at stake. The expectations are that the government will invest in initiatives to undergird the economy, provide support to businesses, ensure the MSME community is provided with funding.”

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