Economy & Business - February 2022

*** BAHAMAS TARGETING FISCAL DEFICIT. The Bahamas, in its recently published Mid-Term Debt Management Strategy report, has set out an aggressive plan to attack the fiscal deficit. The report says: “As set out in the 2021 FSR [Fiscal Strategy Report], the government is targeting an overall fiscal deficit of US$415.2m or 3.3% of GDP for FY2022/23, improving to US$263.7m in FY2023/24 and achieving near balance in FY2024/25, with the overall deficit narrowing to US$67.9m or 0.5 percent of GDP.” The Bahamian dollar is pegged 1-for-1 with the US dollar.