By Fay Simmons

Tribune Business Reporter

jsimmons@tribunemedia.net

Prime Minister Philip Davis announced the government will maintain capital expenditure in agriculture.

While presenting the Davis administration’s 2023/2024 budget, the Prime Minister stated that the government will continue to invest in agriculture by increasing funding to BAMSI and other farmers markets and assisting land development for farmers.

H said “The Government has implemented various programs to strengthen food security over the medium term. For example we have introduced the ‘Golden Yolk Egg Programme’ which facilitated the purchase of chickens for domestic egg harvesting on a larger scale. Going forward we will continue to increase food security and maintain capital expenditure in agriculture.”

“We have set aside funding for the expansion of BAMSI and other Farmers Markets in New Providence, and to support the supply of equipment to assist farmers in land development.”

Mr Davis also announced several new agriculture initiates such as an agriculture cadet programme, a fishing pot programme and a hydroponic programme for primary school students.

He said: “We will fund a number of initiatives to directly increase local agriculture and fishing. We will use Green House Investments for local produce cultivation.”

“We will implement a new Agriculture Administration Cadet Programme.”

“The Fishing Pot Programme trains fishermen how to make and use pots as a means of fishing. We will promote the Citrus Tropical Orchard development in Andros, Cat Island, and Eleuthera. And we will promote the ‘Hydroponic Program and Rise Bed’ initiatives in primary schools to teach children a more efficient means of growing produce.”

Minister of Agriculture Clay Sweeting stated that he was pleased with the budget allocation for agriculture and that the Golden Yolk egg product programme is a staple project for the ministry and the Davis administration.

He said: “We have a good budget allocation for agriculture this year so we’re looking forward to utilise that and we’ll build upon that this upcoming budget.”

“I'm excited, I think it's a staple project for the ministry of agriculture and even more so for the administration and we look forward to a successful upcoming budget.”

The Prime Minister also noted the growth in several Family Islands such as Andros, Exuma, Cat Island, San Salvador and Rum Cay through tourism and real estate.

He said “In 2022, the combined GDP of Cat Island, San Salvador, and Rum Cay experienced a remarkable growth of 39 percent compared to the previous year. Although these islands only make up a small fraction of the Bahamas' economy, accounting for 0.4 percent of the total, their growth is still noteworthy, and supports the Government’s very aggressive and successful effort to reopen Club Med in San Salvador.”

“In 2022, Exuma also played a crucial role in boosting the overall GDP of The Bahamas, contributing 2.1 percent to the country's economic growth. Exuma experienced a significant growth of 33 percent in its GDP compared to the previous year, which was largely attributed to the increase in tourist arrivals. The tourism industry played a pivotal role in Exuma's economic progress, allowing the island to surpass its pre-pandemic levels and achieve significant growth.”

“From 2015 to 2022, the island of Andros consistently accounted for 1.0 percent of the Bahamas' total GDP. However, in 2022, the island's GDP reached its highest level in an eight-year period. Andros experienced a significant economic growth of 6.2 percent in 2022, with real estate activities being the primary contributor.”

"Bimini and the Berry Islands contributed to 1.4 percent to The Bahamas’ total GDP. Despite the downturn in 2020, with the GDP dropping to almost one-third of its usual level, these islands have consistently maintained a strong economic performance from 2015 to 2022.”

Leon Lundy, Member of Parliament for Mangrove Cay, Central and South Andros said Andros was beginning to ‘boom’ and that the budget was financially stable. He added that local small and medium sized enterprises have been benefiting from programs launched by the ministry of tourism.

“Whenever you're doing anything for the Family Islands, I can tell you that people really appreciate it. And even more so its a financially stable budget. So definitely, we're more prudent with the finances and we're catching up.”

“For Andros, the growth of Andros already that he announced in the budget it was more in real estate. So definitely, I understand Andros is beginning to boom, we're pushing them in the right direction, and we're giving them some more opportunities.”

“Right now we have a cluster program going on with tourism, and that's beginning to help it where each business helps out the other where when you have someone come down the motels and hotels and lodges now are spreading it around and using it more as an experience rather than just a specific thing they come to the island for.”