NASSAU| On Thursday morning, Prime Minister Philip Davis hosted a breakfast meeting with leaders from across The Bahamas’ business community as part of the administration’s ongoing effort to build a responsible, forward-looking national budget that reflects the realities of the Bahamian economy.
In opening the discussion, the Prime Minister emphasized the importance of regular dialogue between the government and private sector. “It’s good to be together,” he said. “We are certainly living in very interesting times, and it’s worth a lot to me — and I hope to you as well — to share information and ideas about how we all see the risks and the opportunities for our country.”
The Prime Minister shared an economic and fiscal update, noting that the country has made meaningful progress after emerging from one of the most difficult economic periods in its history. “The progress we’ve made was far from inevitable,” he said. “The magnitude of the challenges we faced required innovative, strategic, and disciplined policy choices.”
He pointed to key achievements such as increased revenue performance, a major reduction in the fiscal deficit, declining inflation, and improved international credit ratings. “These are not just numbers on a page,” the Prime Minister said. “They represent our national comeback — built on tough choices, clear priorities, and a willingness to confront what others ignored.”
In addressing long-standing issues such as the energy sector, the Prime Minister acknowledged the frustration many businesses have endured. “Our own electricity sector has been a drag on Bahamian businesses for too long,” he said. “But we couldn’t build a 21st-century economy on a 20th-century grid, so we’ve worked hard to create a wide-ranging package of reforms that are already delivering results.”
Looking ahead to the upcoming budget, the Prime Minister assured attendees that the government’s approach would be pro-growth, targeted, and inclusive. “This budget will not introduce measures that hurt the business community,” he stated. “Instead, we are focused on expanding opportunity, delivering targeted tax incentives, cutting customs duties on essential goods, and investing in digital modernization and public infrastructure.”
He also stressed the government’s commitment to economic fairness. “Those who come into our country and use our natural resources must pay their fair share,” he said. “We’re creating a system that supports our local businesses while ensuring that international firms also contribute to the nation’s development.”
The meeting concluded with a clear message about partnership and shared responsibility. “Everyone here has unique experiences, strengths, talents, and expertise,” the Prime Minister said. “I hope you know that my door is open, and my mind is open, too. Let’s work together to build a prosperous and secure future for our country.”
The Davis Administration remains committed to listening, acting, and delivering results for the Bahamian people. As it prepares to present the 2025/2026 budget, it does so with a clear focus on economic security, opportunity, and national advancement.
