By LYNAIRE MUNNINGS

Tribune Staff Reporter

lmunnings@tribunemedia.net

OPPOSITION Leader Michael Pintard criticised the Davis administration’s handling of the economy, particularly the projected $450m deficit for the fiscal year’s midpoint.

The deficit sharply contrasts with the original forecast of a $69m deficit for the entire year.

Mr Pintard said the government would likely miss its deficit target and continue accumulating unplanned debt onto Bahamian taxpayers.

He also questioned a $192m increase in recurrent expenses, pointing out that the government had not explained how Bahamians had benefited from this spending.

He suggested that much of the spending might be related to more than $300m in no-bid contracts reported by the Davis administration over the last 12 months. He called for transparency in government spending and criticised the failure to justify these contracts, saying it casts doubt on both the contractors and the government itself.

During his mid-year budget communication yesterday, Prime Minister Philip “Brave” Davis expressed confidence about meeting fiscal targets.

“There is no need for alarm with respect to our ability to achieve our fiscal targets. We feel comfortable that we will stay in line with the budget and still meet our fiscal targets for FY2024/25,” he said, noting the projected 0.5 percent deficit-to-GDP ratio and 23.3 percent revenue-to-GDP ratio.