The Minister of Finance has presented The Bahamas first balanced budget since 1973.
The maintenance of economic expansion, now in its sixth consecutive year, has been fueled by record foreign investment inflows (significantly in the tourism sector) and steady growth in financial services and construction.
In Budget discussions, the Minister noted that the growth momentum has permitted the government to realise foreshadowed revenue growth and maintain the course for the elimination of the overall fiscal deficit in the 2000-2001 fiscal year. This will lower the expansion rate of the national debt this year.